NuScale Power (NYSE:SMR) Shares Down 5.8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares dropped 5.8% during trading on Thursday . The company traded as low as $24.71 and last traded at $24.87. Approximately 3,919,197 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 12,249,309 shares. The stock had previously closed at $26.40.

Analyst Upgrades and Downgrades

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

NuScale Power Price Performance

The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of -25.82 and a beta of 1.51. The company has a 50 day moving average of $22.10 and a 200 day moving average of $17.45. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Transactions at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. This trade represents a 95.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the 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 sale, the vice president now 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. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. Canal Insurance CO increased its position in shares of NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after purchasing an additional 56,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC boosted its position in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after buying an additional 86,454 shares during the period. JPMorgan Chase & Co. boosted its position in shares of NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after buying an additional 111,812 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after acquiring an additional 100,995 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

About NuScale Power

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.