NuScale Power (NYSE:SMR) Shares Down 2.5% – Should You Sell?

Shares of NuScale Power Co. (NYSE:SMR) were down 2.5% on Friday . The stock traded as low as $18.77 and last traded at $19.19. Approximately 2,857,335 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 9,280,657 shares. The stock had previously closed at $19.68.

Analysts Set New Price Targets

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

NuScale Power Trading Down 2.0 %

The business has a 50 day moving average of $22.83 and a 200 day moving average of $15.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of -20.29 and a beta of 1.47.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction 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. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 798,620 shares of company stock valued at $14,624,962 in the last ninety days. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after acquiring an additional 317,285 shares in the last quarter. State Street Corp raised its stake in shares of NuScale Power by 10.2% during the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after purchasing an additional 154,368 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after buying an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 buying an additional 460,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NuScale Power by 57.2% during the third 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 last quarter. Institutional investors and hedge funds own 78.37% 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.