NuScale Power (NYSE:SMR) Trading Down 0.4% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price was down 0.4% during trading on Wednesday . The company traded as low as $24.43 and last traded at $25.75. Approximately 4,390,857 shares were traded during trading, a decline of 64% from the average daily volume of 12,367,630 shares. The stock had previously closed at $25.86.

Analyst Ratings Changes

Separately, Craig Hallum increased 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 four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.42.

NuScale Power Stock Performance

The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of -27.96 and a beta of 1.51. 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 company’s 50-day moving average price is $22.07 and its two-hundred day moving average price is $17.39.

Insiders Place Their Bets

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was 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 directly owns 3,801 shares of the company’s stock, valued at $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at approximately $625,537. This represents a 95.04 % 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

A number of hedge funds have recently made changes to their positions in SMR. CIBC Private Wealth Group LLC grew its position in shares of NuScale Power by 2,114.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 40,042 shares of the company’s stock valued at $788,000 after acquiring an additional 38,234 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in NuScale Power during the fourth quarter valued at $22,823,000. L & S Advisors Inc bought a new stake in shares of NuScale Power in the fourth quarter valued at $277,000. Orion Portfolio Solutions LLC bought a new stake in shares of NuScale Power in the fourth quarter valued at $182,000. Finally, NEOS Investment Management LLC bought a new position in shares of NuScale Power during the 4th quarter worth $297,000. 78.37% of the stock is currently owned by institutional investors.

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.