NuScale Power (NYSE:SMR) Trading Down 7.3% – What’s Next?

NuScale Power Co. (NYSE:SMR) shares traded down 7.3% during trading on Monday . The stock traded as low as $18.13 and last traded at $18.66. 3,210,443 shares were traded during mid-day trading, a decline of 64% from the average session volume of 9,017,030 shares. The stock had previously closed at $20.13.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lifted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Up 8.2 %

The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -21.89 and a beta of 1.47. 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 50-day moving average of $22.86 and a 200-day moving average of $15.79.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds have recently added to or reduced their stakes in the business. Bouvel Investment Partners LLC bought a new stake in NuScale Power during the 4th quarter valued at $973,000. Wolff Wiese Magana LLC raised its stake in shares of NuScale Power by 125,230.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 12,533 shares of the company’s stock worth $225,000 after buying an additional 12,523 shares in the last quarter. MRA Advisory Group bought a new stake in shares of NuScale Power in the 4th quarter worth $373,000. Harbour Capital Advisors LLC bought a new stake in shares of NuScale Power in the 4th quarter worth $301,000. Finally, JPMorgan Chase & Co. raised its stake in shares of NuScale Power by 204.0% in the 3rd 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. Institutional investors 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.