NuScale Power (NYSE:SMR) Trading Down 0.4% - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) fell 0.4% during mid-day trading on Friday . The company traded as low as $21.21 and last traded at $21.57. 2,192,302 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 6,479,091 shares. The stock had previously closed at $21.66.

Analyst Ratings Changes

SMR has been the subject of several research analyst reports. Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. CLSA began coverage on NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, NuScale Power currently has a consensus rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Stock Down 2.5 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of -22.71 and a beta of 1.33. The business's 50-day moving average is $21.43 and its 200-day moving average is $13.95.

Insiders Place Their Bets

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 144,627 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 422,237 shares of company stock worth $6,005,215. Corporate insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently bought and sold shares of the stock. Catalina Capital Group LLC increased its holdings in shares of NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company's stock valued at $146,000 after acquiring an additional 809 shares during the last quarter. HighTower Advisors LLC raised its stake in NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company's stock worth $140,000 after acquiring an additional 820 shares in the last quarter. Indie Asset Partners LLC boosted its stake in NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company's stock valued at $218,000 after acquiring an additional 1,250 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NuScale Power during the third quarter worth about $44,000. Finally, Price T Rowe Associates Inc. MD increased its position in NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company's stock worth $106,000 after buying an additional 4,014 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.

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