NuScale Power (NYSE:SMR) Shares Down 2.1% - Here's What Happened

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) dropped 2.1% during trading on Tuesday . The stock traded as low as $26.26 and last traded at $26.87. Approximately 4,101,140 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 12,470,359 shares. The stock had previously closed at $27.46.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lifted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.42.

NuScale Power Price Performance

The company's 50 day moving average price is $22.11 and its 200-day moving average price is $17.50. The company has a market capitalization of $5.89 billion, a PE ratio of -24.28 and a beta of 1.51. 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 Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the company's stock in a transaction on 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 directly owns 3,801 shares of the company's stock, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in SMR. Venturi Wealth Management LLC raised its stake in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after purchasing an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp raised its stake in shares of NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock valued at $38,000 after purchasing an additional 1,800 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of NuScale Power in the 4th quarter valued at about $42,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power in the 3rd quarter valued at about $44,000. Finally, Amalgamated Bank raised 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. Institutional investors and hedge funds own 78.37% of the company's stock.

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.