NuScale Power (NYSE:SMR) Trading Down 1.8% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s stock price was down 1.8% on Tuesday . The company traded as low as $27.23 and last traded at $27.55. Approximately 3,186,122 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 6,317,250 shares. The stock had previously closed at $28.06.

Analyst Ratings Changes

Several research firms have issued reports on SMR. CLSA initiated coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. 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 research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Down 4.2 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $6.86 billion, a P/E ratio of -29.00 and a beta of 1.12. The business has a 50 day moving average price of $17.76 and a 200 day moving average price of $12.36.

Insider Buying and Selling

In related news, insider Robert K. Temple sold 115,866 shares of the 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 completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 409,051 shares of company stock valued at $5,525,671. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the 3rd quarter valued at about $44,000. US Bancorp DE purchased a new position in shares of NuScale Power during the third quarter valued at approximately $54,000. CWM LLC increased its stake in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares during the period. International Assets Investment Management LLC purchased a new position in shares of NuScale Power during the second quarter valued at approximately $64,000. Finally, TFC Financial Management Inc. purchased a new position in shares of NuScale Power during the second quarter valued at approximately $75,000. Institutional investors and hedge funds own 15.28% 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.