NuScale Power (NYSE:SMR) Trading Down 2.7% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their price target 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 Stock Down 5.8 %

The firm has a market capitalization of $4.56 billion, a PE ratio of -16.98 and a beta of 1.58. The company’s fifty day simple moving average is $20.60 and its 200 day simple moving average is $19.45. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the chief financial officer now owns 29,985 shares of the company’s stock, valued at $470,764.50. This trade represents a 51.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in NuScale Power during the 3rd quarter valued at about $116,000. Quest Partners LLC grew its holdings in shares of NuScale Power by 52.4% during the third quarter. Quest Partners LLC now owns 14,950 shares of the company’s stock valued at $173,000 after buying an additional 5,142 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of NuScale Power during the third quarter valued at approximately $175,000. Charles Schwab Investment Management Inc. raised its holdings in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after acquiring an additional 460,487 shares during the last quarter. Finally, FORA Capital LLC bought a new position in NuScale Power in the 3rd quarter valued at approximately $471,000. 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.