NuScale Power Co. (NYSE:SMR – Get Free Report)’s share price dropped 4.4% during mid-day trading on Monday . The stock traded as low as $24.22 and last traded at $24.56. Approximately 4,199,866 shares traded hands during trading, a decline of 35% from the average daily volume of 6,436,481 shares. The stock had previously closed at $25.70.
Analyst Ratings Changes
SMR has been the subject of several research analyst reports. CLSA started coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. Craig Hallum raised their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.
NuScale Power Stock Down 6.6 %
The company has a market cap of $6.13 billion, a PE ratio of -25.85 and a beta of 1.33. The company has a fifty day moving average of $20.59 and a two-hundred day moving average of $13.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.
Insider Activity
In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert K. Temple sold 5,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $134,496.78. This trade represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,237 shares of company stock valued at $6,053,065. 1.96% of the stock is currently owned by company insiders.
Institutional Trading of NuScale Power
Several institutional investors and hedge funds have recently modified their holdings of SMR. Price T Rowe Associates Inc. MD raised its position in NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after purchasing an additional 4,014 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in NuScale Power in the second quarter worth about $159,000. SG Americas Securities LLC grew its holdings in NuScale Power by 244.7% during the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after acquiring an additional 131,570 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of NuScale Power in the 2nd quarter worth approximately $126,000. Finally, Greylin Investment Management Inc bought a new position in shares of NuScale Power during the second quarter valued at approximately $410,000. 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.