NuScale Power (NYSE:SMR) Stock Price Down 8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price traded down 8% on Friday . The company traded as low as $19.65 and last traded at $20.08. 4,821,443 shares changed hands during trading, a decline of 26% from the average session volume of 6,555,742 shares. The stock had previously closed at $21.82.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SMR shares. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. Craig Hallum lifted their price objective 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 assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Performance

The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of -20.78 and a beta of 1.33. 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 50 day simple moving average of $22.74 and a two-hundred day simple moving average of $14.81.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,610 shares of company stock worth $3,528,780. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

A number of large investors have recently made changes to their positions in SMR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the third quarter valued at approximately $44,000. US Bancorp DE acquired a new stake in NuScale Power during the 3rd quarter worth $54,000. CWM LLC boosted its stake in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares during the period. International Assets Investment Management LLC acquired a new position in NuScale Power in the second quarter valued at $64,000. Finally, Quest Partners LLC purchased a new stake in shares of NuScale Power in the second quarter valued at about $115,000. 78.37% of the stock is 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.