NuScale Power (NYSE:SMR) Trading Down 3.6% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares traded down 3.6% on Tuesday . The company traded as low as $26.22 and last traded at $26.30. 3,783,181 shares were traded during mid-day trading, a decline of 39% from the average session volume of 6,224,026 shares. The stock had previously closed at $27.27.

Wall Street Analyst Weigh In

SMR has been the topic of several research reports. Craig Hallum boosted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. CLSA initiated coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Down 4.8 %

The firm’s 50-day moving average price is $16.60 and its two-hundred day moving average price is $11.83. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. This trade represents a 25.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $134,496.78. This trade represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,293 shares of company stock worth $5,679,222. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently bought and sold shares of the business. Swedbank AB bought a new stake in NuScale Power during the first quarter worth approximately $18,585,000. Van ECK Associates Corp bought a new stake in NuScale Power during the second quarter valued at about $7,600,000. Charles Schwab Investment Management Inc. grew its position in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Geode Capital Management LLC grew its holdings in NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after buying an additional 317,285 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in NuScale Power in the 3rd quarter worth approximately $2,895,000. 15.28% of the stock is owned by institutional investors and hedge funds.

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.