NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price fell 2.2% during mid-day trading on Monday . The company traded as low as $19.37 and last traded at $20.67. 4,601,809 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 6,488,085 shares. The stock had previously closed at $21.13.
A number of brokerages have issued reports on SMR. CLSA began coverage on NuScale Power in a research report on Friday, September 13th. They issued an "outperform" rating and a $11.00 target price on the stock. Craig Hallum raised their target price on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.
Check Out Our Latest Report on SMR
The stock has a market cap of $5.55 billion, a price-to-earnings ratio of -21.76 and a beta of 1.33. The business's 50 day moving average is $21.59 and its 200 day moving average is $14.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.
In other news, insider Robert K. Temple sold 144,627 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $153,188.60. This represents a 91.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company's stock, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 422,237 shares of company stock valued at $6,005,215. 1.96% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the third quarter worth $44,000. US Bancorp DE acquired a new stake in NuScale Power in the 3rd quarter valued at about $54,000. CWM LLC increased its holdings in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company's stock valued at $61,000 after acquiring an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power during the second quarter worth about $64,000. Finally, TFC Financial Management Inc. purchased a new stake in shares of NuScale Power in the second quarter valued at about $75,000. 78.37% of the stock is owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider NuScale Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NuScale Power wasn't on the list.
While NuScale Power currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.