NuScale Power (NYSE:SMR) Shares Gap Down – Should You Sell?

Shares of NuScale Power Co. (NYSE:SMR) gapped down before the market opened on Thursday . The stock had previously closed at $18.53, but opened at $17.84. NuScale Power shares last traded at $18.66, with a volume of 903,873 shares.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their price target on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th.

NuScale Power Stock Performance

The company has a market capitalization of $5.11 billion, a PE ratio of -19.06 and a beta of 1.58. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $20.68 and its 200-day simple moving average is $19.15.

Insider Buying and Selling at NuScale Power

In other news, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 1,149 shares of the company’s stock, valued at $16,683.48. This represents a 95.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,682 shares of company stock valued at $12,840,747 in the last three months. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock worth $191,000 after purchasing an additional 656 shares during the last quarter. HighTower Advisors LLC boosted its stake 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 purchasing an additional 820 shares during the period. Amalgamated Bank lifted its stake 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 acquiring an additional 986 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock worth $159,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in NuScale Power by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company’s stock worth $379,000 after purchasing an additional 1,314 shares in 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.