NuScale Power (NYSE:SMR) Trading Down 3.8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price fell 3.8% during trading on Wednesday . The stock traded as low as $17.57 and last traded at $18.00. 1,466,388 shares changed hands during trading, a decline of 82% from the average session volume of 8,162,948 shares. The stock had previously closed at $18.71.

Wall Street Analysts Forecast Growth

Separately, UBS Group decreased their price target on 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 Trading Down 7.2 %

The company’s 50 day moving average is $20.51 and its 200 day moving average is $19.43. 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 market capitalization of $4.22 billion, a price-to-earnings ratio of -15.73 and a beta of 1.58.

Insider Buying and Selling at NuScale Power

In related news, VP Jacqueline F. Engel sold 24,618 shares of the business’s stock in a transaction on 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 owns 1,149 shares of the company’s stock, 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 hyperlink. Also, 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 value of $494,487.20. Following the transaction, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. The trade was a 51.23 % 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 quarter. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of NuScale Power by 17.9% in the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company’s stock worth $1,429,000 after acquiring an additional 12,070 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in NuScale Power in the 4th quarter valued at $207,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of NuScale Power in the 4th quarter valued at $324,000. Glen Eagle Advisors LLC bought a new stake in shares of NuScale Power during the fourth quarter worth $208,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of NuScale Power during the fourth quarter valued at $1,766,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.