NuScale Power (NYSE:SMR) Trading Down 1.6% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price was down 1.6% during mid-day trading on Monday . The company traded as low as $28.40 and last traded at $29.74. Approximately 5,609,090 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 6,307,366 shares. The stock had previously closed at $30.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SMR shares. Craig Hallum upped their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. One equities 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Down 7.1 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The firm’s 50 day moving average is $17.40 and its two-hundred day moving average is $12.20. The firm has a market capitalization of $7.17 billion, a P/E ratio of -28.93 and a beta of 1.12.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. The trade was a 25.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $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 sold a total of 428,293 shares of company stock valued at $5,679,222 in the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently bought and sold shares of SMR. Tidal Investments LLC bought a new position in shares of NuScale Power during the third quarter worth approximately $118,000. Barclays PLC grew its holdings in NuScale Power by 472.3% in the 3rd quarter. Barclays PLC now owns 150,791 shares of the company’s stock valued at $1,746,000 after buying an additional 124,441 shares in the last quarter. Geode Capital Management LLC increased 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 buying an additional 317,285 shares during the period. State Street Corp lifted its holdings 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 in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of NuScale Power by 581.8% in the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after acquiring an additional 100,995 shares during the period. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.