NuScale Power (NYSE:SMR) Shares Down 0.7% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s share price dropped 0.7% on Thursday . The company traded as low as $18.65 and last traded at $18.98. Approximately 4,127,688 shares were traded during trading, a decline of 37% from the average daily volume of 6,533,920 shares. The stock had previously closed at $19.11.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. CLSA initiated coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum boosted their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 4.0 %

The firm has a market cap of $5.05 billion, a P/E ratio of -20.81 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock’s 50 day simple moving average is $22.36 and its 200 day simple moving average is $14.44.

Insider Activity at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert K. Temple sold 68,558 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $182,983.08. This trade represents a 82.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 277,610 shares of company stock valued at $4,428,780. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in NuScale Power in the third quarter valued at approximately $44,000. US Bancorp DE bought a new stake in shares of NuScale Power in the third quarter valued at $54,000. CWM LLC lifted its position in shares of NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of NuScale Power during the 2nd quarter worth $64,000. Finally, Quest Partners LLC bought a new stake in NuScale Power in the 2nd quarter valued at about $115,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.