NuScale Power (NYSE:SMR) Trading Down 3.3% - Should You Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price fell 3.3% during mid-day trading on Wednesday . The company traded as low as $25.52 and last traded at $26.14. 3,362,913 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 6,237,708 shares. The stock had previously closed at $27.02.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SMR shares. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They set an "outperform" rating and a $11.00 price objective for the company. Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Stock Performance

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 has a market cap of $6.32 billion, a PE ratio of -26.25 and a beta of 1.12. The firm's 50-day simple moving average is $16.26 and its two-hundred day simple moving average is $11.74.

Insiders Place Their Bets

In related news, insider Robert K. Temple sold 5,000 shares of the firm's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the transaction, the insider now owns 14,054 shares of the company's stock, valued at $134,496.78. This trade represents a 26.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The trade was a 25.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,293 shares of company stock valued at $5,679,222. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power in the 3rd quarter worth about $44,000. US Bancorp DE acquired a new stake in NuScale Power in the 3rd quarter worth about $54,000. Avantax Advisory Services Inc. purchased a new stake in NuScale Power during the 1st quarter worth approximately $58,000. CWM LLC raised its holdings in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company's stock valued at $61,000 after acquiring an additional 5,191 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in NuScale Power in the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 15.28% of the company's stock.

About NuScale Power

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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