NuScale Power (NYSE:SMR) Shares Down 0.7% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) shares traded down 0.7% during mid-day trading on Thursday . The company traded as low as $18.65 and last traded at $18.98. 4,127,688 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 6,533,920 shares. The stock had previously closed at $19.11.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. CLSA initiated coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an "outperform" rating and a $11.00 target price on the stock. Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Stock Down 0.5 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company's 50 day moving average is $22.09 and its 200 day moving average is $14.32. The company has a market cap of $4.85 billion, a PE ratio of -20.01 and a beta of 1.33.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, the vice president now owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction 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 represents a 91.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 422,237 shares of company stock worth $6,005,215. Company insiders own 1.96% of the company's stock.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp purchased a new stake in NuScale Power in the second quarter valued at about $7,600,000. Charles Schwab Investment Management Inc. boosted its stake in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after purchasing an additional 460,487 shares in the last quarter. Geode Capital Management LLC grew its position in NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock worth $21,194,000 after purchasing an additional 317,285 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in NuScale Power during the 3rd quarter valued at approximately $2,895,000. Finally, State Street Corp lifted its stake in shares of NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company's stock worth $19,396,000 after buying an additional 154,368 shares during the period. Hedge funds and other institutional investors 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.