NuScale Power (NYSE:SMR) Shares Down 9.1% – What’s Next?

NuScale Power Co. (NYSE:SMR) fell 9.1% on Thursday . The company traded as low as $18.65 and last traded at $19.74. 8,987,428 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 10,624,304 shares. The stock had previously closed at $21.72.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SMR shares. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. Craig Hallum upped their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. 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, NuScale Power currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a fifty day simple moving average of $22.81 and a two-hundred day simple moving average of $15.52. The firm has a market capitalization of $5.04 billion, a P/E ratio of -20.78 and a beta of 1.47.

Insider Activity

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the business’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 in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 798,620 shares of company stock worth $14,624,962 in the last quarter. 1.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in shares of NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after purchasing an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares in the last quarter. Geode Capital Management LLC boosted its holdings in NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after acquiring an additional 317,285 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of NuScale Power in the 3rd quarter worth $2,895,000. Finally, State Street Corp raised its holdings in shares of NuScale Power by 10.2% in the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after purchasing an additional 154,368 shares during the last quarter. Institutional investors and hedge funds 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.