NuScale Power (NYSE:SMR) Shares Down 9.5% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) were down 9.5% during trading on Monday . The stock traded as low as $17.56 and last traded at $17.65. Approximately 4,283,538 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 6,567,327 shares. The stock had previously closed at $19.51.

Analyst Ratings Changes

Several research analysts recently issued reports on SMR shares. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. Craig Hallum boosted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a market cap of $4.58 billion, a P/E ratio of -18.87 and a beta of 1.33. The stock’s 50-day moving average is $22.76 and its 200 day moving average is $15.11.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s 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 directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,610 shares of company stock valued at $3,528,780 over the last quarter. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power in the 3rd quarter worth about $44,000. US Bancorp DE acquired a new stake in NuScale Power in the third quarter valued at about $54,000. CWM LLC boosted its stake in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power during the second quarter worth about $64,000. Finally, Quest Partners LLC acquired a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $115,000. Institutional investors 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.