NuScale Power (NYSE:SMR) Trading Down 0.6% – Should You Sell?

NuScale Power Co. (NYSE:SMR) shares were down 0.6% during mid-day trading on Thursday . The stock traded as low as $24.55 and last traded at $24.82. Approximately 6,222,879 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 6,162,649 shares. The stock had previously closed at $24.98.

Wall Street Analysts Forecast Growth

SMR has been the subject of several recent analyst reports. CLSA assumed coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum lifted their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Trading Down 6.6 %

The firm has a market cap of $5.74 billion, a P/E ratio of -24.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.66 and a current ratio of 2.24. The firm has a fifty day moving average of $15.50 and a 200-day moving average of $11.36.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. The trade was a 26.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. This represents a 25.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 428,293 shares of company stock worth $5,679,222. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Canal Insurance CO lifted its holdings in shares of NuScale Power by 35.0% in the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after buying an additional 56,000 shares during the period. Van ECK Associates Corp lifted its holdings in NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of NuScale Power during the 1st quarter valued at about $58,000. SG Americas Securities LLC grew its stake in shares of NuScale Power by 268.3% in the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after purchasing an additional 39,171 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of 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 worth $1,328,000 after purchasing an additional 109,142 shares in the last quarter. 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.