NuScale Power (NYSE:SMR) Trading Down 2.2% – Here’s Why

NuScale Power Co. (NYSE:SMR) fell 2.2% on Monday . The stock traded as low as $19.37 and last traded at $20.67. 4,601,809 shares traded hands during trading, a decline of 29% from the average session volume of 6,488,085 shares. The stock had previously closed at $21.13.

Analyst Ratings Changes

SMR has been the topic of a number of research analyst reports. CLSA initiated coverage on NuScale Power in a report 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 NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Down 0.0 %

The firm has a 50 day moving average of $21.94 and a 200-day moving average of $14.29. 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 stock has a market capitalization of $5.54 billion, a P/E ratio of -22.85 and a beta of 1.33.

Insider Activity

In related news, insider Robert K. Temple sold 144,627 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.90, for a total value of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $153,188.60. This represents a 91.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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

A number of large investors have recently bought and sold shares of SMR. Brookstone Capital Management acquired a new position in NuScale Power in the second quarter valued at about $126,000. Catalina Capital Group LLC acquired a new position in shares of NuScale Power in the 2nd quarter worth approximately $138,000. Bank of New York Mellon Corp grew its position in NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after acquiring an additional 137,382 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in NuScale Power during the 2nd quarter valued at $123,000. Finally, International Assets Investment Management LLC bought a new position in NuScale Power in the 2nd quarter valued at $64,000. 78.37% of the stock is currently owned by 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.