NuScale Power (NYSE:SMR) Trading Down 6.5% - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) dropped 6.5% during mid-day trading on Wednesday . The stock traded as low as $20.40 and last traded at $20.69. Approximately 4,157,309 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 6,455,085 shares. The stock had previously closed at $22.14.

Analysts Set New Price Targets

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

NuScale Power Trading Up 1.8 %

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 50-day moving average price of $21.04 and a 200-day moving average price of $13.83. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of -21.78 and a beta of 1.33.

Insider Buying and Selling at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the business's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 427,237 shares of company stock valued at $6,053,065 in the last 90 days. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently bought and sold shares of SMR. Canal Insurance CO lifted its holdings in shares of NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company's stock worth $2,501,000 after acquiring an additional 56,000 shares during the period. Verition Fund Management LLC raised its position in NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company's stock worth $1,314,000 after purchasing an additional 86,454 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NuScale Power by 212.4% during the third 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 during the period. Van ECK Associates Corp boosted its holdings in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company's stock valued at $14,307,000 after purchasing an additional 585,292 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of NuScale Power in the 3rd quarter valued at approximately $277,000. Institutional investors and hedge funds own 15.28% 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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