NuScale Power (NYSE:SMR) Stock Price Down 3.6% – What’s Next?

NuScale Power Co. (NYSE:SMR) traded down 3.6% during mid-day trading on Tuesday . The stock traded as low as $26.22 and last traded at $26.30. 3,783,181 shares were traded during mid-day trading, a decline of 39% from the average session volume of 6,224,026 shares. The stock had previously closed at $27.27.

Analyst Ratings Changes

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

NuScale Power Trading Down 4.8 %

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’s fifty day moving average is $16.60 and its two-hundred day moving average is $11.83.

Insider Buying and Selling at NuScale Power

In related news, insider Robert K. Temple sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. The trade was a 26.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 57,681 shares in the company, valued at $460,294.38. This represents a 25.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,293 shares of company stock worth $5,679,222. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of SMR. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the third quarter worth $44,000. US Bancorp DE acquired a new position in shares of NuScale Power during the 3rd quarter worth about $54,000. Avantax Advisory Services Inc. bought a new stake in shares of NuScale Power in the 1st quarter valued at about $58,000. CWM LLC lifted its stake in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of NuScale Power during the 2nd quarter worth approximately $64,000. 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.