NuScale Power (NYSE:SMR) Shares Gap Down - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $18.53, but opened at $17.84. NuScale Power shares last traded at $18.66, with a volume of 903,873 shares trading hands.

Analyst Ratings Changes

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, March 7th.

NuScale Power Price Performance

The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -19.06 and a beta of 1.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock's 50 day moving average price is $20.68 and its two-hundred day moving average price is $19.31.

Insider Buying and Selling

In other news, VP Jacqueline F. Engel sold 24,618 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their position. The transaction was disclosed in a document filed 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 dated Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the sale, the chief financial officer now owns 29,985 shares of the company's stock, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 720,682 shares of company stock valued at $12,840,747. 1.96% of the stock is owned by company insiders.

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Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SMR. Victory Capital Management Inc. raised its stake in shares of NuScale Power by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock valued at $191,000 after buying an additional 656 shares in the last quarter. HighTower Advisors LLC increased its stake in NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company's stock valued at $140,000 after acquiring an additional 820 shares during the period. Amalgamated Bank raised its position in 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 purchasing an additional 986 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in NuScale Power by 16.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock worth $159,000 after purchasing an additional 1,260 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings 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 in the last quarter. 78.37% of the stock is currently 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.