NuScale Power (NYSE:SMR) Stock Price Down 2.7% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price dropped 2.7% on Tuesday . The company traded as low as $18.20 and last traded at $18.37. Approximately 1,641,801 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 8,199,293 shares. The stock had previously closed at $18.88.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their target price on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th.

NuScale Power Price Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of -15.58 and a beta of 1.58. The stock's 50-day simple moving average is $20.51 and its two-hundred day simple moving average is $19.43.

Insider Activity

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the 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 transaction, the chief financial officer now owns 29,985 shares of the company's stock, valued at approximately $470,764.50. This represents a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,682 shares of company stock worth $12,840,747 over the last ninety days. Corporate insiders own 1.96% of the company's stock.

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Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Samsung C&T Corp purchased a new stake in shares of NuScale Power in the 4th quarter valued at $46,745,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of NuScale Power in the 4th quarter valued at $22,823,000. Vanguard Group Inc. boosted its holdings in NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock valued at $151,113,000 after purchasing an additional 635,271 shares in the last quarter. Van ECK Associates Corp raised its holdings in NuScale Power by 41.4% during the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company's stock worth $31,317,000 after purchasing an additional 511,168 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after buying an additional 460,487 shares during 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.