NuScale Power (NYSE:SMR) Shares Down 5.8% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) fell 5.8% during mid-day trading on Tuesday . The company traded as low as $16.39 and last traded at $16.59. 1,447,929 shares traded hands during trading, a decline of 83% from the average session volume of 8,322,642 shares. The stock had previously closed at $17.60.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Down 4.4 %

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 business’s 50-day simple moving average is $20.88 and its 200-day simple moving average is $19.03. The company has a market capitalization of $4.75 billion, a PE ratio of -17.65 and a beta of 1.58.

Insider Buying and Selling

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This trade represents a 95.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the sale, the chief executive officer now 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. Insiders sold a total of 720,682 shares of company stock valued at $12,840,747 over the last 90 days. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently made changes to their positions in SMR. Victory Capital Management Inc. grew its position in NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after buying an additional 656 shares during the period. HighTower Advisors LLC grew its position in shares of NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after acquiring an additional 820 shares during the period. Amalgamated Bank increased its stake in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after purchasing an additional 986 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in NuScale Power by 16.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock worth $159,000 after purchasing an additional 1,260 shares during the period. Finally, Corient Private Wealth LLC boosted its position in NuScale Power by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company’s stock worth $379,000 after purchasing an additional 1,314 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other 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.