NuScale Power (NYSE:SMR) Shares Down 5.8% – What’s Next?

NuScale Power Co. (NYSE:SMR) shares fell 5.8% on Tuesday . The stock traded as low as $16.39 and last traded at $16.59. 1,447,929 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 8,322,642 shares. The stock had previously closed at $17.60.

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. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.58.

NuScale Power Price Performance

The stock has a 50 day moving average of $20.88 and a 200-day moving average of $19.03. The stock has a market capitalization of $4.75 billion, a P/E ratio of -17.65 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.

Insider Transactions at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction on 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 directly owns 1,149 shares in the company, valued at $16,683.48. This trade represents a 95.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the 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 transaction, the chief financial officer now directly owns 29,985 shares in the company, valued at $470,764.50. The trade was a 51.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after purchasing an additional 635,271 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NuScale Power by 1.6% in 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 acquiring an additional 89,949 shares in the last quarter. Samsung C&T Corp purchased a new stake in shares of NuScale Power during the 4th quarter worth $46,745,000. Geode Capital Management LLC boosted its position in 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 purchasing an additional 135,613 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings 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 buying an additional 511,168 shares in the last quarter. 78.37% of the stock is currently owned by 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.