NuScale Power (NYSE:SMR) Shares Down 2.7% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares traded down 2.7% on Tuesday . The company traded as low as $18.20 and last traded at $18.37. 1,641,801 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 8,199,293 shares. The stock had previously closed at $18.88.

Analysts Set New Price Targets

Separately, UBS Group lowered their target price on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

NuScale Power Stock Performance

The company has a market capitalization of $5.25 billion, a PE ratio of -19.58 and a beta of 1.58. The business’s 50-day moving average is $20.68 and its 200-day moving average is $19.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Buying and Selling

In other news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 29,985 shares of the company’s stock, valued at $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 720,682 shares of company stock worth $12,840,747 in the last quarter. Corporate insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 460,487 shares during the last quarter. Verition Fund Management LLC increased its position in NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after purchasing an additional 86,454 shares during the last quarter. JPMorgan Chase & Co. lifted its position in NuScale Power by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after purchasing an additional 111,812 shares during the last quarter. Stifel Financial Corp grew its stake in shares of 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 buying an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of NuScale Power in the 3rd quarter worth about $277,000. Institutional investors own 78.37% of the company’s stock.

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.