NuScale Power (NYSE:SMR) Trading Down 3.9% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares dropped 3.9% during mid-day trading on Monday . The company traded as low as $18.85 and last traded at $19.00. Approximately 2,643,621 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 6,554,330 shares. The stock had previously closed at $19.77.

Analyst Ratings Changes

Several analysts recently commented on the stock. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum lifted their price target 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 analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market capitalization of $5.10 billion, a PE ratio of -21.02 and a beta of 1.33. The company’s fifty day simple moving average is $22.36 and its two-hundred day simple moving average is $14.54.

Insider Activity

In other news, insider Robert K. Temple sold 68,558 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $182,983.08. The trade was a 82.99 % decrease in their ownership of the stock. 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 firm’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 transaction of $527,394.00. Following the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 277,610 shares of company stock worth $4,428,780 over the last ninety days. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Hedge funds have recently added to or reduced their stakes in the business. Canal Insurance CO lifted its holdings 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 worth $2,501,000 after acquiring an additional 56,000 shares during the period. Charles Schwab Investment Management Inc. raised its stake in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after purchasing an additional 460,487 shares during the period. Verition Fund Management LLC boosted its holdings in shares of NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after purchasing an additional 86,454 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of NuScale Power during the 3rd quarter worth $277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of NuScale Power by 57.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after buying an additional 128,012 shares during the period. 78.37% of the stock is 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.