NuScale Power Co. (NYSE:SMR - Get Free Report) shares dropped 6.7% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $14.53 and last traded at $14.88. Approximately 4,196,113 shares changed hands during trading, a decline of 64% from the average daily volume of 11,756,413 shares. The stock had previously closed at $15.95.
Specifically, 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 transaction of $357,453.36. Following the sale, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Analyst Upgrades and Downgrades
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 report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.58.
Read Our Latest Report on NuScale Power
NuScale Power Stock Down 1.9 %
The firm has a fifty day moving average of $21.33 and a 200-day moving average of $18.51. The firm has a market cap of $4.00 billion, a P/E ratio of -16.48 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.
Hedge Funds Weigh In On NuScale Power
A number of institutional investors have recently bought and sold shares of the business. Total Wealth Planning & Management Inc. acquired a new position in NuScale Power during the fourth quarter worth approximately $324,000. Glen Eagle Advisors LLC acquired a new position in NuScale Power during the fourth quarter worth approximately $208,000. Voloridge Investment Management LLC acquired a new position in NuScale Power during the fourth quarter worth approximately $1,766,000. Two Sigma Advisers LP acquired a new position in NuScale Power during the fourth quarter worth approximately $2,018,000. Finally, Two Sigma Investments LP increased its position in NuScale Power by 60.2% during the fourth quarter. Two Sigma Investments LP now owns 487,037 shares of the company's stock worth $8,733,000 after buying an additional 182,928 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.
About NuScale Power
(
Get Free Report)
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.
See Also
Before you consider NuScale Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NuScale Power wasn't on the list.
While NuScale Power currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
