NuScale Power (NYSE:SMR) Stock Price Down 2.7% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) were down 2.7% on Friday . The company traded as low as $27.77 and last traded at $28.30. Approximately 6,842,753 shares traded hands during trading, a decline of 32% from the average daily volume of 10,056,829 shares. The stock had previously closed at $29.08.

Analysts Set New Price Targets

Separately, Craig Hallum raised their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Down 3.5 %

The firm has a 50-day moving average price of $22.99 and a two-hundred day moving average price of $16.44. 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 has a market cap of $7.17 billion, a price-to-earnings ratio of -29.54 and a beta of 1.47.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $0.48 million for the quarter, compared to analyst estimates of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same period in the previous year, the business posted ($0.26) EPS.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SMR. Catalina Capital Group LLC boosted its stake in shares of NuScale Power by 6.8% during the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock worth $146,000 after buying an additional 809 shares during the period. HighTower Advisors LLC lifted its position in NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after acquiring an additional 820 shares during the period. Indie Asset Partners LLC grew its stake in shares of NuScale Power by 7.1% in the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after purchasing an additional 1,250 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of NuScale Power during the fourth quarter worth $67,000. 78.37% 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.