NuScale Power (NYSE:SMR) Trading Down 7.3% – What’s Next?

NuScale Power Co. (NYSE:SMR) shares dropped 7.3% during trading on Monday . The company traded as low as $18.13 and last traded at $18.66. Approximately 3,210,443 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 9,017,030 shares. The stock had previously closed at $20.13.

Analyst Upgrades and Downgrades

Separately, Craig Hallum boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the stock 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 given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Up 8.2 %

The business has a 50-day moving average price of $22.86 and a 200-day moving average price of $15.79. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of -21.89 and a beta of 1.47. 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 Activity

In other 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 transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power 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 transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in NuScale Power in the third quarter valued at about $44,000. US Bancorp DE purchased a new position in NuScale Power in the third quarter valued at about $54,000. CWM LLC grew its stake in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares in the last quarter. Quest Partners LLC purchased a new position in NuScale Power in the second quarter valued at about $115,000. Finally, Victory Capital Management Inc. purchased a new position in NuScale Power in the third quarter valued at about $116,000. 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.