NuScale Power (NYSE:SMR) Shares Down 5.1% – What’s Next?

NuScale Power Co. (NYSE:SMR) shares traded down 5.1% during mid-day trading on Thursday . The company traded as low as $15.14 and last traded at $15.17. 1,807,617 shares changed hands during trading, a decline of 85% from the average session volume of 11,673,182 shares. The stock had previously closed at $15.98.

Analysts Set New Price Targets

Separately, UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, NuScale Power presently has an average rating of “Moderate Buy” and an average price target of $12.58.

NuScale Power Stock Up 15.3 %

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 firm has a market cap of $4.48 billion, a P/E ratio of -18.46 and a beta of 1.58. The business has a 50-day moving average price of $21.00 and a 200-day moving average price of $18.81.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the sale, the vice president now owns 1,149 shares of the company’s stock, valued at $16,683.48. This trade represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,682 shares of company stock worth $12,840,747 in the last three months. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after buying an additional 635,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NuScale Power by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after buying an additional 89,949 shares during the last quarter. Samsung C&T Corp purchased a new stake in NuScale Power in the fourth quarter valued at about $46,745,000. Geode Capital Management LLC raised its stake in NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after buying an additional 135,613 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of NuScale Power by 41.4% in the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after purchasing an additional 511,168 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other 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.