NuScale Power (NYSE:SMR) Stock Price Down 3.1% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price dropped 3.1% on Friday . The company traded as low as $17.36 and last traded at $17.64. Approximately 1,342,710 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 8,181,720 shares. The stock had previously closed at $18.20.

Analyst Ratings Changes

Separately, UBS Group decreased their target price on 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 Stock Up 5.6 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $20.68 and a 200-day moving average of $19.31. The stock has a market cap of $5.41 billion, a PE ratio of -20.15 and a beta of 1.58.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was 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 directly owns 29,985 shares of the company's stock, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 24,618 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the transaction, the vice president now directly owns 1,149 shares in the company, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock valued at $12,840,747 in the last ninety days. 1.96% of the stock is currently owned by company insiders.

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Hedge Funds Weigh In On NuScale Power

Institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of NuScale Power by 17.9% during the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock worth $1,429,000 after acquiring an additional 12,070 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in NuScale Power during the 4th quarter worth approximately $207,000. Total Wealth Planning & Management Inc. purchased a new position in shares of NuScale Power during the 4th quarter worth approximately $324,000. Glen Eagle Advisors LLC purchased a new position in shares of NuScale Power during the 4th quarter worth approximately $208,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of NuScale Power in the 4th quarter valued at approximately $1,766,000. 78.37% of the stock is owned by institutional investors and hedge funds.

About NuScale Power

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.