NuScale Power (NYSE:SMR) Trading Down 0.6% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s stock price traded down 0.6% during mid-day trading on Thursday . The stock traded as low as $24.55 and last traded at $24.82. 6,222,879 shares were traded during mid-day trading, an increase of 1% from the average session volume of 6,162,649 shares. The stock had previously closed at $24.98.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Craig Hallum raised their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. CLSA assumed coverage on NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NuScale Power has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Down 0.9 %

The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of -26.13 and a beta of 1.12. The business has a 50-day moving average of $14.83 and a two-hundred day moving average of $11.15. The company has a quick ratio of 2.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 428,293 shares of company stock worth $5,679,222 over the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SMR. Swedbank AB bought a new position in shares of NuScale Power in the first quarter valued at approximately $18,585,000. Van ECK Associates Corp bought a new position in shares of NuScale Power in the second quarter valued at approximately $7,600,000. Charles Schwab Investment Management Inc. raised its stake 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 valued at $7,843,000 after acquiring an additional 460,487 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of NuScale Power in the third quarter valued at approximately $2,895,000. Finally, Philip James Wealth Mangement LLC acquired a new stake in shares of NuScale Power in the third quarter valued at approximately $1,656,000. Institutional investors own 15.28% of the company’s stock.

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.