NuScale Power (NYSE:SMR) Stock Price Down 9.1% – Should You Sell?

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

Analysts Set New Price Targets

A number of brokerages have commented on SMR. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for 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. 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 stock. According to MarketBeat, NuScale Power presently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The stock has a 50 day moving average of $22.85 and a 200-day moving average of $15.62. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.12 billion, a P/E ratio of -21.09 and a beta of 1.47.

Insider Transactions at NuScale Power

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Catalina Capital Group LLC raised its holdings in shares of NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after purchasing an additional 809 shares in the last quarter. HighTower Advisors LLC raised its stake in NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after buying an additional 820 shares in the last quarter. Indie Asset Partners LLC lifted its holdings in NuScale Power by 7.1% during the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after buying an additional 1,250 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in NuScale Power during the 3rd quarter valued at $44,000. Finally, US Bancorp DE purchased a new position in shares of NuScale Power in the 3rd quarter valued at $54,000. 78.37% of the stock is currently owned by institutional investors.

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.