NuScale Power (NYSE:SMR) Trading Down 3.8% – Here’s Why

NuScale Power Co. (NYSE:SMR) fell 3.8% on Wednesday . The stock traded as low as $17.57 and last traded at $18.00. 1,466,388 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 8,162,948 shares. The stock had previously closed at $18.71.

Analysts Set New Price Targets

Separately, UBS Group reduced 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.

NuScale Power Stock Performance

The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -15.73 and a beta of 1.58. The stock’s 50 day moving average price is $20.51 and its 200 day moving average price is $19.43. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the transaction, the chief financial officer now directly owns 29,985 shares in the company, valued at $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock valued at $12,840,747 in the last 90 days. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. CoreCap Advisors LLC acquired a new stake in shares of NuScale Power during the 4th quarter worth about $33,000. Venturi Wealth Management LLC boosted its holdings in shares of NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares during the period. Toth Financial Advisory Corp grew its position in shares of 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 purchasing an additional 1,800 shares during the last quarter. Twin Tree Management LP bought a new position in shares of NuScale Power during the fourth quarter worth approximately $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power during the 3rd quarter worth approximately $44,000. 78.37% of the stock is owned by 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.