NuScale Power (NYSE:SMR) Shares Down 0.8% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) fell 0.8% during trading on Wednesday . The stock traded as low as $13.63 and last traded at $13.80. 2,495,027 shares changed hands during trading, a decline of 69% from the average session volume of 8,117,587 shares. The stock had previously closed at $13.91.

Analysts Set New Price Targets

Several brokerages have issued reports on SMR. BTIG Research started coverage on NuScale Power in a research note on Friday. They issued a "buy" rating and a $20.00 price target on the stock. UBS Group dropped their target price on shares of NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.60.

NuScale Power Stock Performance

The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -15.93 and a beta of 1.64. The company's fifty day simple moving average is $18.11 and its two-hundred day simple moving average is $19.87. 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 Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 31,496 shares of the company's stock in a transaction 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 owns 29,985 shares in the company, valued at approximately $470,764.50. This represents a 51.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now owns 516,207 shares in the company, valued at approximately $7,810,211.91. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,114 shares of company stock worth $1,351,231 in the last quarter. Insiders own 1.96% of the company's stock.

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Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC bought a new stake in NuScale Power in the 4th quarter worth about $33,000. Venturi Wealth Management LLC grew its holdings 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 valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock valued at $38,000 after acquiring an additional 1,800 shares during the last quarter. Twin Tree Management LP bought a new stake in NuScale Power during the fourth quarter worth $42,000. Finally, Amalgamated Bank boosted 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 during the last quarter. Hedge funds and other institutional investors 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.