NuScale Power (NYSE:SMR) Trading Down 11.2% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price dropped 11.2% during mid-day trading on Monday . The company traded as low as $21.30 and last traded at $21.75. Approximately 7,110,357 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 6,032,265 shares. The stock had previously closed at $24.49.

Wall Street Analysts Forecast Growth

SMR has been the subject of several research reports. Craig Hallum boosted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. One investment 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 target price of $10.39.

NuScale Power Trading Up 7.5 %

The business has a 50 day moving average price of $14.49 and a 200-day moving average price of $11.05. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -26.42 and a beta of 1.12. The company has a quick ratio of 2.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $9.57, for a total value of $47,850.00. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Robert K. Temple sold 5,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $134,496.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,293 shares of company stock worth $5,679,222 over the last quarter. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SMR. Canal Insurance CO raised its stake in NuScale Power by 35.0% during the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after acquiring an additional 56,000 shares in the last quarter. Van ECK Associates Corp lifted its holdings in NuScale Power by 90.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after purchasing an additional 585,292 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in NuScale Power in the first quarter valued at about $58,000. SG Americas Securities LLC raised its stake in shares of NuScale Power by 268.3% in the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock valued at $286,000 after acquiring an additional 39,171 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in NuScale Power by 1,984.4% during the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock valued at $1,328,000 after purchasing an additional 109,142 shares in the last quarter. 15.28% of the stock is currently 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.