NuScale Power (NYSE:SMR) Trading Down 5% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) shares dropped 5% on Friday . The stock traded as low as $15.29 and last traded at $15.29. Approximately 1,687,848 shares traded hands during trading, a decline of 79% from the average daily volume of 8,116,868 shares. The stock had previously closed at $16.10.

Wall Street Analyst Weigh In

Separately, UBS Group reduced 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.

NuScale Power Trading Down 5.3 %

The stock has a market cap of $4.00 billion, a PE ratio of -14.92 and a beta of 1.58. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $20.37 and a two-hundred day simple moving average of $19.63.

Insider Buying and Selling at NuScale Power

In related news, VP Jacqueline F. Engel sold 24,618 shares of the business's stock in a transaction that occurred on 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 owns 1,149 shares in the company, valued at $16,683.48. The trade was a 95.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 34,675 shares of the company's stock, valued at approximately $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,682 shares of company stock worth $12,840,747 over the last three months. 1.96% of the stock is owned by insiders.

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Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Victory Capital Management Inc. raised its position in NuScale Power by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock worth $191,000 after purchasing an additional 656 shares during the period. HighTower Advisors LLC grew its stake in shares of NuScale Power by 7.3% during the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company's stock valued at $140,000 after buying an additional 820 shares during the last quarter. Amalgamated Bank increased its holdings in shares of NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock worth $52,000 after buying an additional 986 shares during the period. Summit Investment Advisors Inc. grew its position in NuScale Power by 16.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock worth $159,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in NuScale Power by 6.6% in the 4th quarter. Corient Private Wealth LLC now owns 21,130 shares of the company's stock worth $379,000 after purchasing an additional 1,314 shares during the period. 78.37% of the stock is currently owned by institutional investors.

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.