NuScale Power (NYSE:SMR) Trading Down 9.1% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) were down 9.1% during mid-day trading on Thursday . The stock traded as low as $18.65 and last traded at $19.74. Approximately 8,987,428 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 10,624,304 shares. The stock had previously closed at $21.72.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of recent analyst reports. Craig Hallum lifted their price target on 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 NuScale Power in a research note on Friday, September 13th. They set 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

The firm has a 50 day moving average price of $22.81 and a two-hundred day moving average price of $15.52. The company has a market cap of $5.04 billion, a P/E ratio of -20.78 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction that occurred 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 directly owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 798,620 shares of company stock worth $14,624,962 over the last quarter. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Catalina Capital Group LLC grew its position in NuScale Power by 6.8% during the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock worth $146,000 after buying an additional 809 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of NuScale Power by 7.3% during the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares in the last quarter. Indie Asset Partners LLC increased its position in shares of NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after purchasing an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the third quarter valued at approximately $44,000. Finally, US Bancorp DE bought a new stake in NuScale Power during the third quarter valued at approximately $54,000. Institutional investors own 78.37% 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.