NuScale Power (NYSE:SMR) Trading Down 3.8% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price fell 3.8% during mid-day trading on Wednesday . The company traded as low as $17.57 and last traded at $18.00. 1,466,388 shares traded 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 Analyst Weigh In

Separately, UBS Group reduced their price objective on 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 stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of -18.54 and a beta of 1.58. The business has a 50-day simple moving average of $20.67 and a two-hundred day simple moving average of $19.47. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Activity

In related news, VP Jacqueline F. Engel sold 24,618 shares of the business’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 sale, the vice president now directly owns 1,149 shares in the company, valued at $16,683.48. The trade was a 95.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $15.70, for a total transaction of $494,487.20. Following the sale, the chief financial officer now owns 29,985 shares of the company’s stock, valued at $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 worth $12,840,747 over the last 90 days. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently modified their holdings of SMR. CoreCap Advisors LLC acquired a new position in shares of NuScale Power in the 4th quarter valued at $33,000. Venturi Wealth Management LLC lifted its stake in NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after buying an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after buying an additional 1,800 shares during the period. Twin Tree Management LP purchased a new position in shares of NuScale Power in the fourth quarter worth approximately $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power during the third quarter valued at approximately $44,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.