NuScale Power (NYSE:SMR) Shares Down 3.3% - What's Next?

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BTIG Research started coverage on NuScale Power in a research note on Friday, April 11th. They issued a "buy" rating and a $20.00 price target on the stock. UBS Group dropped 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 note on Friday, March 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.60.

NuScale Power Stock Up 0.8 %

The firm's fifty day simple moving average is $17.06 and its two-hundred day simple moving average is $19.96. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -15.38 and a beta of 1.64. 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

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the transaction, the chief financial officer now directly owns 29,985 shares in the company, valued at $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now directly owns 516,207 shares of the company's stock, valued at approximately $7,810,211.91. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,114 shares of company stock worth $1,351,231. Company insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently bought and sold shares of SMR. CoreCap Advisors LLC purchased a new stake in shares of NuScale Power during the fourth quarter worth approximately $33,000. Venturi Wealth Management LLC increased its position 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 during the last quarter. Toth Financial Advisory Corp raised its holdings 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 purchased a new stake in shares of NuScale Power during the 4th quarter worth $42,000. Finally, NBC Securities Inc. grew its stake in shares of NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 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.