NuScale Power (NYSE:SMR) Shares Down 5.1% - What's Next?

NuScale Power Co. (NYSE:SMR - Get Free Report) dropped 5.1% during trading on Thursday . The company traded as low as $15.14 and last traded at $15.17. Approximately 1,807,617 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 11,673,182 shares. The stock had previously closed at $15.98.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their price objective on NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NuScale Power presently has an average rating of "Moderate Buy" and a consensus price target of $12.58.

NuScale Power Stock Up 15.3 %

The firm has a fifty day simple moving average of $21.00 and a 200-day simple moving average of $18.89. The company has a market capitalization of $4.95 billion, a P/E ratio of -18.46 and a beta of 1.58. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction dated 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 directly owns 34,675 shares of the company's stock, valued at $625,537. This represents a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now directly owns 1,149 shares of the company's stock, valued at $16,683.48. This represents a 95.54 % 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. 1.96% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock worth $191,000 after buying an additional 656 shares during the period. HighTower Advisors LLC boosted its position in 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 purchasing an additional 820 shares during the last quarter. Amalgamated Bank boosted its position in NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after purchasing an additional 986 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in NuScale Power by 16.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock valued at $159,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in NuScale Power by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company's stock valued at $379,000 after purchasing an additional 1,314 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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.