NuScale Power (NYSE:SMR) Trading Down 7.4% – Time to Sell?

Shares of NuScale Power Co. (NYSE:SMR) dropped 7.4% during mid-day trading on Thursday . The company traded as low as $13.78 and last traded at $13.99. Approximately 2,604,813 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 8,094,160 shares. The stock had previously closed at $15.11.

Wall Street Analysts Forecast Growth

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

NuScale Power Trading Down 11.1 %

The company has a 50 day moving average of $19.18 and a 200 day moving average of $19.66. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -13.23 and a beta of 1.64. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Activity

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 29,985 shares in the company, 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 filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the company’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 transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This trade represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,114 shares of company stock worth $1,351,231. 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 added to or reduced their stakes in the stock. Samsung C&T Corp bought a new stake in shares of NuScale Power during the fourth quarter valued at approximately $46,745,000. Arrowstreet Capital Limited Partnership bought a new position in NuScale Power in the 4th quarter valued at $22,823,000. Vanguard Group Inc. increased its stake in shares of NuScale Power by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after buying an additional 635,271 shares during the period. Van ECK Associates Corp raised its position in shares of NuScale Power by 41.4% during the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after acquiring an additional 511,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 460,487 shares during the period. Institutional investors and hedge funds 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.