NuScale Power (NYSE:SMR) Trading Down 5.6% – What’s Next?

NuScale Power Co. (NYSE:SMR) shares dropped 5.6% during mid-day trading on Monday . The stock traded as low as $13.78 and last traded at $14.13. Approximately 2,304,272 shares traded hands during trading, a decline of 72% from the average daily volume of 8,130,065 shares. The stock had previously closed at $14.97.

Analysts Set New Price Targets

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

NuScale Power Price Performance

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 has a market capitalization of $4.11 billion, a P/E ratio of -15.26 and a beta of 1.58. The business’s fifty day moving average is $20.37 and its 200 day moving average is $19.63.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the company’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 transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This represents a 95.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,682 shares of company stock worth $12,840,747. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after purchasing an additional 635,271 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NuScale Power by 1.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock worth $101,998,000 after buying an additional 89,949 shares during the period. Samsung C&T Corp acquired a new stake in NuScale Power in the 4th quarter valued at $46,745,000. Geode Capital Management LLC lifted its holdings in shares of NuScale Power by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after acquiring an additional 135,613 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of NuScale Power by 41.4% in the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after purchasing an additional 511,168 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.