NuScale Power (NYSE:SMR) Shares Down 5.1% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price dropped 5.1% during trading on Thursday . The stock traded as low as $15.14 and last traded at $15.17. Approximately 1,807,617 shares changed hands during trading, a decline of 85% from the average daily volume of 11,673,182 shares. The stock had previously closed at $15.98.

Wall Street Analysts Forecast Growth

Separately, 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 research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.58.

NuScale Power Stock Performance

The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of -18.46 and a beta of 1.58. The firm has a fifty day moving average of $21.00 and a 200 day moving average of $18.81. 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 at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 1,149 shares in the company, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 720,682 shares of company stock valued at $12,840,747. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of NuScale Power by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after acquiring an additional 656 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after acquiring an additional 820 shares in the last quarter. Amalgamated Bank lifted its position in shares of NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after acquiring an additional 986 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock valued at $159,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of NuScale Power by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company’s stock valued at $379,000 after acquiring an additional 1,314 shares in the last quarter. Hedge funds and other institutional investors 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.