NuScale Power (NYSE:SMR) Trading Down 5.8% - Time to Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report) was down 5.8% during mid-day trading on Tuesday . The company traded as low as $16.39 and last traded at $16.59. Approximately 1,447,929 shares were traded during trading, a decline of 83% from the average daily volume of 8,322,642 shares. The stock had previously closed at $17.60.

Analysts Set New Price Targets

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 0.5 %

The company's 50-day simple moving average is $20.72 and its 200 day simple moving average is $19.08. 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 firm has a market capitalization of $5.11 billion, a PE ratio of -19.06 and a beta of 1.58.

Insider Buying and Selling at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now directly owns 29,985 shares of the company's stock, valued at $470,764.50. This represents a 51.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm'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 transaction, the chief executive officer now directly owns 34,675 shares of the company's stock, valued at approximately $625,537. This trade 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. Corporate insiders own 1.96% of the company's stock.

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Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock valued at $7,843,000 after acquiring an additional 460,487 shares in the last quarter. Verition Fund Management LLC raised its position in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company's stock worth $1,314,000 after acquiring an additional 86,454 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of NuScale Power by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company's stock worth $1,930,000 after acquiring an additional 111,812 shares in the last quarter. Stifel Financial Corp increased its stake in shares of NuScale Power by 581.8% in the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company's stock valued at $1,371,000 after purchasing an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in shares of NuScale Power in the third quarter valued at approximately $277,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

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.