NuScale Power (NYSE:SMR) Stock Price Down 3.8% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) shares dropped 3.8% on Wednesday . The stock traded as low as $17.57 and last traded at $18.00. Approximately 1,466,388 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 8,162,948 shares. The stock had previously closed at $18.71.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price target on shares of NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, March 7th.

NuScale Power Price Performance

The stock has a market capitalization of $4.22 billion, a P/E ratio of -15.73 and a beta of 1.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a 50-day simple moving average of $20.37 and a 200 day simple moving average of $19.48.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the sale, the vice president now owns 1,149 shares in the company, valued at $16,683.48. The trade was a 95.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 720,682 shares of company stock valued at $12,840,747. 1.96% of the stock is currently owned by insiders.

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Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of SMR. Victory Capital Management Inc. bought a new position in shares of NuScale Power during the third quarter worth about $116,000. Intech Investment Management LLC acquired a new position in NuScale Power during the 3rd quarter worth approximately $175,000. Charles Schwab Investment Management Inc. grew its stake in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after acquiring an additional 460,487 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of NuScale Power in the third quarter valued at approximately $471,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power in the third quarter worth $44,000. 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.