NuScale Power (NYSE:SMR) Shares Down 2.7% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) fell 2.7% on Friday . The stock traded as low as $27.77 and last traded at $28.30. 6,842,753 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 10,056,829 shares. The stock had previously closed at $29.08.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. 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, NuScale Power currently has a consensus rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Price 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's fifty day moving average is $22.99 and its 200-day moving average is $16.46. The stock has a market capitalization of $7.17 billion, a PE ratio of -29.54 and a beta of 1.47.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The business had revenue of $0.48 million during the quarter, compared to analysts' expectations of $6.18 million. During the same quarter in the prior year, the firm earned ($0.26) EPS.

Insider Buying and Selling

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power 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 sale, the chief executive officer now owns 34,675 shares of the company's stock, valued at $625,537. The trade was a 95.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Toth Financial Advisory Corp raised its stake in NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock valued at $38,000 after buying an additional 1,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NuScale Power during the third quarter worth about $44,000. US Bancorp DE acquired a new position in shares of NuScale Power in the third quarter valued at approximately $54,000. CWM LLC lifted its stake in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company's stock worth $61,000 after acquiring an additional 5,191 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in NuScale Power during the 4th quarter worth approximately $67,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.