NuScale Power (NYSE:SMR) Stock Price Down 2.7% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price was down 2.7% during mid-day trading on Tuesday . The company traded as low as $18.20 and last traded at $18.37. Approximately 1,641,801 shares changed hands during trading, a decline of 80% from the average daily volume of 8,199,293 shares. The stock had previously closed at $18.88.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced 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 report on Friday, March 7th.

NuScale Power Stock Down 5.8 %

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 company has a 50 day simple moving average of $20.60 and a two-hundred day simple moving average of $19.45. The firm has a market capitalization of $4.56 billion, a P/E ratio of -16.98 and a beta of 1.58.

Insider Buying and Selling at NuScale Power

In other news, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now owns 1,149 shares in the company, valued at $16,683.48. This trade represents a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the sale, the chief financial officer now owns 29,985 shares in the company, valued at $470,764.50. This represents a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 720,682 shares of company stock worth $12,840,747. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Verition Fund Management LLC lifted its holdings in shares of NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after acquiring an additional 86,454 shares during the last quarter. JPMorgan Chase & Co. grew its position in NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after acquiring an additional 111,812 shares in the last quarter. Stifel Financial Corp raised its position in NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after purchasing an additional 100,995 shares during the period. Finally, Benjamin Edwards Inc. bought a new stake in shares of NuScale Power in the 3rd quarter valued at approximately $277,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.