NuScale Power (NYSE:SMR) Shares Down 2.9% - Should You Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report) traded down 2.9% on Thursday . The company traded as low as $14.64 and last traded at $15.59. 2,338,348 shares were traded during trading, a decline of 71% from the average session volume of 8,140,943 shares. The stock had previously closed at $16.06.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BTIG Research assumed coverage on NuScale Power in a research report on Friday. They set a "buy" rating and a $20.00 price target on the stock. 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $16.60.

NuScale Power Stock Up 0.6 %

The firm has a market cap of $4.30 billion, a PE ratio of -16.04 and a beta of 1.64. The company has a 50-day simple moving average of $18.11 and a 200-day simple moving average of $19.92. 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 Activity at NuScale Power

In other 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 transaction of $494,487.20. Following the completion of the sale, the chief financial officer now directly owns 29,985 shares in the company, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares of the company's stock, valued at $16,683.48. This trade represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,114 shares of company stock worth $1,351,231. Company insiders own 1.96% of the company's stock.

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Institutional Inflows and Outflows

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