NuScale Power (NYSE:SMR) Shares Down 1.6% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) traded down 1.6% on Monday . The company traded as low as $28.40 and last traded at $29.74. 5,609,090 shares were traded during mid-day trading, a decline of 11% from the average session volume of 6,307,366 shares. The stock had previously closed at $30.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SMR shares. CLSA assumed 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 increased their price objective on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.39.

NuScale Power Stock Down 7.1 %

The business's fifty day simple moving average is $17.40 and its 200 day simple moving average is $12.20. 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 stock has a market cap of $7.17 billion, a price-to-earnings ratio of -28.93 and a beta of 1.12.

Insider Activity at NuScale Power

In other news, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now directly owns 14,054 shares of the company's stock, valued at $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were 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 owns 57,681 shares of the company's stock, valued at approximately $460,294.38. This represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 428,293 shares of company stock worth $5,679,222. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently modified their holdings of SMR. Canal Insurance CO increased its stake in NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company's stock worth $2,501,000 after purchasing an additional 56,000 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company's stock worth $14,307,000 after acquiring an additional 585,292 shares during the period. International Assets Investment Management LLC lifted its position in NuScale Power by 1,984.4% in the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company's stock valued at $1,328,000 after acquiring an additional 109,142 shares in the last quarter. SG Americas Securities LLC boosted its stake in NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company's stock worth $2,167,000 after purchasing an additional 131,570 shares during the period. Finally, Brookstone Capital Management bought a new position in NuScale Power during the 2nd quarter worth about $126,000. Institutional investors own 15.28% 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.

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