NuScale Power (NYSE:SMR) Trading Down 4.7% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares were down 4.7% on Thursday . The company traded as low as $23.13 and last traded at $23.39. Approximately 5,741,561 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 12,271,240 shares. The stock had previously closed at $24.55.

Wall Street Analyst Weigh In

Separately, Craig Hallum lifted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.42.

NuScale Power Stock Down 2.8 %

The business’s 50 day moving average price is $22.22 and its 200-day moving average price is $16.94. The firm has a market capitalization of $6.09 billion, a PE ratio of -25.12 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The business had revenue of $0.48 million for the quarter, compared to analysts’ expectations of $6.18 million. During the same period in the previous year, the company earned ($0.26) earnings per share.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This trade represents a 95.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm’s 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 completion of the sale, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently made changes to their positions in the stock. Sei Investments Co. purchased a new position in NuScale Power during the 2nd quarter valued at about $520,000. The Manufacturers Life Insurance Company boosted its stake in shares of NuScale Power by 37.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock worth $345,000 after purchasing an additional 8,096 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of NuScale Power during the 2nd quarter worth about $177,000. Park Avenue Securities LLC acquired a new stake in shares of NuScale Power during the 3rd quarter worth about $217,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of NuScale Power by 68.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 24,200 shares of the company’s stock worth $280,000 after purchasing an additional 9,800 shares during the last quarter. Hedge funds and other institutional investors own 78.37% 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.