NuScale Power (NYSE:SMR) Trading Down 7.4% – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

NuScale Power Stock Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock’s 50-day moving average price is $19.18 and its 200 day moving average price is $19.66. The company has a market cap of $3.55 billion, a P/E ratio of -13.23 and a beta of 1.64.

Insider Buying and Selling

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 1,149 shares of the company’s stock, valued at $16,683.48. This trade represents a 95.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at approximately $7,810,211.91. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,114 shares of company stock worth $1,351,231 in the last quarter. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

A number of hedge funds have recently bought and sold shares of SMR. Intech Investment Management LLC acquired a new position in shares of NuScale Power during the third quarter valued at about $175,000. Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 460,487 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power in the 3rd quarter valued at approximately $44,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NuScale Power by 57.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after acquiring an additional 128,012 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of NuScale Power by 28.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 28,683 shares of the company’s stock worth $332,000 after purchasing an additional 6,350 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

NuScale Power Company Profile

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.