Hobbs Group Advisors LLC Decreases Position in NuScale Power Co. (NYSE:SMR)

Hobbs Group Advisors LLC reduced its position in shares of NuScale Power Co. (NYSE:SMR - Free Report) by 91.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,396 shares of the company's stock after selling 24,204 shares during the quarter. Hobbs Group Advisors LLC's holdings in NuScale Power were worth $28,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company's stock valued at $106,000 after buying an additional 4,014 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company's stock worth $2,167,000 after purchasing an additional 131,570 shares during the period. Brookstone Capital Management purchased a new stake in shares of NuScale Power in the second quarter worth $126,000. Greylin Investment Management Inc bought a new stake in shares of NuScale Power during the 2nd quarter valued at $410,000. Finally, TFC Financial Management Inc. purchased a new position in shares of NuScale Power during the 2nd quarter valued at $75,000. Hedge funds and other institutional investors own 15.28% of the company's stock.

NuScale Power Trading Down 3.3 %

Shares of SMR traded down $0.73 during trading hours on Thursday, reaching $21.67. 9,593,312 shares of the company traded hands, compared to its average volume of 6,498,115. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of -22.81 and a beta of 1.33. NuScale Power Co. has a 12-month low of $1.88 and a 12-month high of $32.30. The stock's fifty day moving average price is $21.43 and its 200 day moving average price is $13.95. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 144,627 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares of the company's stock, valued at approximately $153,188.60. This represents a 91.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares of the company's stock, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,237 shares of company stock valued at $6,053,065 in the last three months. Company insiders own 1.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on SMR shares. Craig Hallum raised their price target on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NuScale Power has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.

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.