NuScale Power (NYSE:SMR) Stock Price Down 4.5% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares were down 4.5% during mid-day trading on Tuesday . The stock traded as low as $20.51 and last traded at $20.75. Approximately 3,760,550 shares traded hands during trading, a decline of 42% from the average daily volume of 6,494,657 shares. The stock had previously closed at $21.72.

Analysts Set New Price Targets

Several equities analysts recently commented on SMR shares. CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. Craig Hallum raised 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 assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Down 0.5 %

The business’s 50-day moving average is $22.09 and its 200-day moving average is $14.32. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of -20.01 and a beta of 1.33. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The stock was 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 in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares in the company, valued at $153,188.60. This represents a 91.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,237 shares of company stock worth $6,005,215 over the last quarter. 1.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp acquired a new stake in NuScale Power in the 2nd quarter valued at $7,600,000. Charles Schwab Investment Management Inc. grew its position 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 purchasing an additional 460,487 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 317,285 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of NuScale Power during the third quarter worth about $2,895,000. Finally, State Street Corp raised its position 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 during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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.