NuScale Power (NYSE:SMR) Shares Down 4.7% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price fell 4.7% during trading on Thursday . The stock traded as low as $23.13 and last traded at $23.39. 5,741,561 shares changed hands during trading, a decline of 53% from the average session volume of 12,271,240 shares. The stock had previously closed at $24.55.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. One equities research 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, NuScale Power currently has an average rating of "Moderate Buy" and an average target price of $11.42.

NuScale Power Stock Performance

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 firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of -27.31 and a beta of 1.51. The stock has a fifty day moving average price of $22.05 and a 200-day moving average price of $17.29.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company's stock, valued at $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of 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. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC grew its stake in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after purchasing an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp boosted its position in shares of NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock valued at $38,000 after purchasing an additional 1,800 shares in the last quarter. Twin Tree Management LP bought a new stake in NuScale Power in the fourth quarter worth approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the 3rd quarter worth approximately $44,000. Finally, Amalgamated Bank grew its position in shares of NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock worth $52,000 after buying an additional 986 shares during the period. 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.