NuScale Power (NYSE:SMR) Shares Down 5.6% - Time to Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price traded down 5.6% during trading on Monday . The stock traded as low as $13.78 and last traded at $14.13. 2,304,272 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 8,130,065 shares. The stock had previously closed at $14.97.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their target price on shares of 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 3.4 %

The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -15.42 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 business has a fifty day moving average price of $20.00 and a two-hundred day moving average price of $19.71.

Insiders Place Their Bets

In related news, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power 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 sale, the chief financial officer now 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 stock in a transaction 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 of the company's stock, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,682 shares of company stock valued at $12,840,747. 1.96% of the stock is owned by insiders.

Remove Ads

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock worth $151,113,000 after purchasing an additional 635,271 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NuScale Power by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company's stock valued at $101,998,000 after purchasing an additional 89,949 shares during the period. Samsung C&T Corp acquired a new position in shares of NuScale Power in the 4th quarter valued at $46,745,000. Geode Capital Management LLC grew its holdings in shares of NuScale Power by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock worth $35,249,000 after purchasing an additional 135,613 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company's stock worth $31,317,000 after purchasing an additional 511,168 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

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.