NuScale Power (NYSE:SMR) Trading Down 3.3% – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) were down 3.3% on Wednesday . The stock traded as low as $14.76 and last traded at $14.88. Approximately 981,764 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 8,168,569 shares. The stock had previously closed at $15.38.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SMR shares. UBS Group cut their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. BTIG Research started coverage on NuScale Power in a report on Friday, April 11th. They set a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.60.

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -15.38 and a beta of 1.64. The stock’s fifty day moving average price is $17.28 and its 200-day moving average price is $19.89.

Insider Transactions at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 directly owns 29,985 shares of the company’s stock, valued at $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the business’s stock in a transaction dated 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 represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,114 shares of company stock valued at $1,351,231 over the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC acquired a new position in NuScale Power in the 4th quarter valued at $33,000. Venturi Wealth Management LLC increased its stake in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares during the period. Toth Financial Advisory Corp lifted its position in shares of NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares during the last quarter. Twin Tree Management LP bought a new stake in NuScale Power during the 4th quarter valued at approximately $42,000. Finally, NBC Securities Inc. grew its holdings in NuScale Power by 165,450.0% in the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock valued at $46,000 after buying an additional 3,309 shares during the last quarter. 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.