NuScale Power (NYSE:SMR) Trading Down 4.7% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price traded down 4.7% on Thursday . The stock traded as low as $23.13 and last traded at $23.39. 5,741,561 shares changed hands during trading, a decline of 53% from the average session volume of 12,271,240 shares. The stock had previously closed at $24.55.

Analyst Ratings Changes

Separately, Craig Hallum increased 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, NuScale Power has a consensus rating of “Moderate Buy” and a consensus target price of $11.42.

NuScale Power Stock Up 11.2 %

The stock’s fifty day moving average is $22.05 and its two-hundred day moving average is $17.08. 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 company has a market capitalization of $6.60 billion, a PE ratio of -27.22 and a beta of 1.51.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The company had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $6.18 million. During the same quarter in the previous year, the firm earned ($0.26) earnings per share.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the business’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 value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction that occurred 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 sale, 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. 1.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of NuScale Power by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock worth $191,000 after acquiring an additional 656 shares during the period. Catalina Capital Group LLC boosted its stake in NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock worth $146,000 after purchasing an additional 809 shares during the period. HighTower Advisors LLC grew its holdings in NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after buying an additional 820 shares in the last quarter. Amalgamated Bank increased its position in shares of NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after buying an additional 986 shares during the period. Finally, Indie Asset Partners LLC lifted its holdings in shares of NuScale Power by 7.1% in 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 in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.