Short Interest in NuScale Power Co. (NYSE:SMR) Declines By 16.2%

NuScale Power Co. (NYSE:SMR) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 18,640,000 shares, a drop of 16.2% from the November 15th total of 22,250,000 shares. Approximately 21.9% of the company’s shares are sold short. Based on an average trading volume of 10,810,000 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

SMR has been the topic of several recent analyst reports. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. Craig Hallum boosted 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 research 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. According to MarketBeat, NuScale Power currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert K. Temple sold 75,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $12.00, for a total transaction of $900,000.00. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $168,648. This represents a 84.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 422,237 shares of company stock worth $6,005,215. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp bought a new position in shares of NuScale Power during the second quarter valued at about $7,600,000. Charles Schwab Investment Management Inc. grew its stake in shares of NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of NuScale Power by 21.0% during the third 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. TimesSquare Capital Management LLC bought a new position in shares of NuScale Power during the third quarter valued at about $2,895,000. Finally, State Street Corp grew its stake in shares of NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after buying an additional 154,368 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Stock Down 2.4 %

SMR opened at $21.13 on Monday. The company has a fifty day moving average price of $21.59 and a 200-day moving average price of $14.11. The firm has a market capitalization of $5.40 billion, a P/E ratio of -22.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. NuScale Power has a one year low of $1.88 and a one year high of $32.30.

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.