NuScale Power (NYSE:SMR) Shares Down 2.2% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price fell 2.2% on Wednesday . The stock traded as low as $24.79 and last traded at $25.05. 5,462,342 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 8,987,169 shares. The stock had previously closed at $25.61.

Analyst Upgrades and Downgrades

Separately, Craig Hallum increased their price target 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. 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 data from MarketBeat.com, NuScale Power has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Trading Down 3.5 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of -29.54 and a beta of 1.47. The business has a 50 day simple moving average of $22.89 and a 200-day simple moving average of $16.32.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The company had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $6.18 million. During the same period last year, the business earned ($0.26) earnings per share.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power 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 transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp increased its stake in shares of NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NuScale Power during the third quarter valued at about $44,000. US Bancorp DE acquired a new stake in NuScale Power during the third quarter worth $54,000. CWM LLC raised its position in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in NuScale Power in the 4th quarter valued at $67,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.