NuScale Power (NYSE:SMR) Stock Price Down 1.7% After Analyst Downgrade

Shares of NuScale Power Co. (NYSE:SMR) fell 1.7% on Monday after UBS Group lowered their price target on the stock from $25.00 to $17.00. UBS Group currently has a neutral rating on the stock. NuScale Power traded as low as $14.74 and last traded at $15.37. 3,304,381 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 11,747,102 shares. The stock had previously closed at $15.63.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the business’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 transaction, the vice president now directly owns 1,149 shares of the company’s stock, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. The trade was 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

Several hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after purchasing an additional 460,487 shares during the period. Verition Fund Management LLC raised its stake in shares of NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after buying an additional 86,454 shares during the period. JPMorgan Chase & Co. lifted its position in shares of NuScale Power by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after buying an additional 111,812 shares in the last quarter. Stifel Financial Corp increased its holdings in NuScale Power by 581.8% in the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after acquiring an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in NuScale Power during the third quarter worth $277,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Trading Down 1.9 %

The firm has a market capitalization of $3.91 billion, a PE ratio of -16.13 and a beta of 1.58. The company’s fifty day simple moving average is $21.26 and its 200-day simple moving average is $18.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

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.