NuScale Power (NYSE:SMR) Stock Price Down 13.4% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price traded down 13.4% during mid-day trading on Wednesday . The company traded as low as $18.81 and last traded at $18.81. 4,306,158 shares changed hands during trading, a decline of 55% from the average session volume of 9,577,696 shares. The stock had previously closed at $21.72.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Craig Hallum upped their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. One investment 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 data from MarketBeat.com, NuScale Power has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Up 1.8 %

The firm has a market cap of $5.12 billion, a P/E ratio of -21.09 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. The firm’s fifty day moving average is $22.85 and its 200 day moving average is $15.62.

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 798,620 shares of company stock worth $14,624,962 over the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in NuScale Power by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after buying an additional 111,812 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of NuScale Power in the 3rd quarter valued at $555,000. Tidal Investments LLC acquired a new stake in shares of NuScale Power in the 3rd quarter valued at $118,000. Barclays PLC boosted its holdings in shares of NuScale Power by 472.3% in the 3rd quarter. Barclays PLC now owns 150,791 shares of the company’s stock valued at $1,746,000 after purchasing an additional 124,441 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after purchasing an additional 317,285 shares in the last quarter. Institutional investors and hedge funds 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.