NuScale Power (NYSE:SMR) Trading Down 1.5% – Should You Sell?

NuScale Power Co. (NYSE:SMR) shares fell 1.5% during trading on Wednesday . The company traded as low as $17.36 and last traded at $17.93. 7,122,629 shares traded hands during trading, an increase of 8% from the average session volume of 6,590,206 shares. The stock had previously closed at $18.21.

Analyst Ratings Changes

A number of research firms have issued reports on SMR. Craig Hallum increased their target price 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 NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Trading Down 1.2 %

The company has a market cap of $4.52 billion, a price-to-earnings ratio of -18.64 and a beta of 1.33. The company’s 50 day moving average price is $22.75 and its 200 day moving average price is $15.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insiders Place Their Bets

In related news, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on 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 $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Bank of New York Mellon Corp boosted its stake in NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after purchasing an additional 137,382 shares during the period. Principal Financial Group Inc. bought a new stake in shares of NuScale Power in the second quarter valued at approximately $123,000. International Assets Investment Management LLC bought a new position in NuScale Power during the second quarter worth $64,000. Commonwealth Equity Services LLC raised its stake in NuScale Power by 85.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock valued at $917,000 after purchasing an additional 36,236 shares during the last quarter. Finally, Rhumbline Advisers grew its position in NuScale Power by 62.9% in the 2nd quarter. Rhumbline Advisers now owns 104,341 shares of the company’s stock worth $1,220,000 after purchasing an additional 40,305 shares during the last quarter. 78.37% of the stock is 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.