NuScale Power (NYSE:SMR) Trading Down 7.3% - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) traded down 7.3% on Monday . The company traded as low as $18.13 and last traded at $18.66. 3,210,443 shares changed hands during trading, a decline of 64% from the average session volume of 9,017,030 shares. The stock had previously closed at $20.13.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised their price objective on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Stock Performance

The company has a 50-day moving average of $22.86 and a 200-day moving average of $15.79. The company has a market cap of $5.30 billion, a PE ratio of -21.85 and a beta of 1.47. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the company. Arkadios Wealth Advisors purchased a new position in NuScale Power in the 4th quarter valued at approximately $439,000. Bouvel Investment Partners LLC bought a new position in shares of NuScale Power in the fourth quarter worth $973,000. Wolff Wiese Magana LLC grew its position in shares of NuScale Power by 125,230.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 12,533 shares of the company's stock valued at $225,000 after purchasing an additional 12,523 shares in the last quarter. MRA Advisory Group bought a new stake in shares of NuScale Power during the 4th quarter valued at $373,000. Finally, Harbour Capital Advisors LLC purchased a new stake in NuScale Power during the 4th quarter worth about $301,000. 78.37% of the stock is owned by institutional investors.

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.