NuScale Power (NYSE:SMR) Stock Price Down 7.4% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price was down 7.4% during trading on Thursday . The stock traded as low as $13.78 and last traded at $13.99. Approximately 2,604,813 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 8,094,160 shares. The stock had previously closed at $15.11.

Wall Street Analyst Weigh In

Separately, UBS Group decreased their price objective on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th.

NuScale Power Stock Up 11.6 %

The company has a market cap of $3.97 billion, a P/E ratio of -14.80 and a beta of 1.64. The stock has a 50-day moving average of $19.18 and a 200 day moving average of $19.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Activity

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were 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 of the company's stock, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the 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 completion of the transaction, the chief financial officer now owns 29,985 shares of the company's stock, valued at $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,114 shares of company stock worth $1,351,231. 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 made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after acquiring an additional 460,487 shares during the last quarter. Verition Fund Management LLC grew its stake 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 purchasing an additional 86,454 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company's stock valued at $1,930,000 after purchasing an additional 111,812 shares during the period. Stifel Financial Corp raised its position in NuScale Power by 581.8% during the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company's stock worth $1,371,000 after purchasing an additional 100,995 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of NuScale Power in the 3rd quarter valued at about $277,000. Institutional investors and hedge funds 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.