NuScale Power (NYSE:SMR) Shares Down 3.3% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares fell 3.3% on Wednesday . The company traded as low as $25.52 and last traded at $26.14. 3,362,913 shares were traded during mid-day trading, a decline of 46% from the average session volume of 6,237,708 shares. The stock had previously closed at $27.02.

Analyst Upgrades and Downgrades

SMR has been the topic of several recent research reports. Craig Hallum boosted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market cap of $6.32 billion, a price-to-earnings ratio of -26.25 and a beta of 1.12. The stock’s 50-day simple moving average is $16.26 and its 200 day simple moving average is $11.74.

Insider Buying and Selling

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on 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. The trade was a 25.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert K. Temple sold 5,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. This represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 428,293 shares of company stock valued at $5,679,222. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB acquired a new stake in NuScale Power during the 1st quarter worth $18,585,000. Van ECK Associates Corp purchased a new position in NuScale Power during the 2nd quarter worth approximately $7,600,000. Charles Schwab Investment Management Inc. increased its position 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 buying an additional 460,487 shares during the period. Geode Capital Management LLC lifted its stake in NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after buying an additional 317,285 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of NuScale Power in the third quarter valued at approximately $2,895,000. Institutional investors and hedge funds 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.