NuScale Power (NYSE:SMR) Trading Down 0.8% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price dropped 0.8% during trading on Wednesday . The company traded as low as $13.63 and last traded at $13.80. Approximately 2,495,027 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 8,117,587 shares. The stock had previously closed at $13.91.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced 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 note on Friday, March 7th.

NuScale Power Price Performance

The company has a market cap of $4.52 billion, a price-to-earnings ratio of -16.69 and a beta of 1.64. 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 simple moving average is $18.75 and its 200 day simple moving average is $19.82.

Insider Activity at NuScale Power

In other news, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the sale, the vice president now directly owns 1,149 shares in the company, valued at approximately $16,683.48. This trade represents a 95.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were 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. The trade was a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,114 shares of company stock valued at $1,351,231 over the last 90 days. 1.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in SMR. NBC Securities Inc. raised its position in shares of NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock valued at $46,000 after acquiring an additional 3,309 shares in the last quarter. Kaizen Financial Strategies acquired a new position in shares of NuScale Power in the 1st quarter worth approximately $204,000. Rhumbline Advisers boosted its stake in shares of NuScale Power by 12.8% during the 1st quarter. Rhumbline Advisers now owns 125,708 shares of the company’s stock worth $1,780,000 after acquiring an additional 14,304 shares in the last quarter. Parallel Advisors LLC lifted its stake in NuScale Power by 6.8% during the first quarter. Parallel Advisors LLC now owns 61,490 shares of the company’s stock valued at $871,000 after buying an additional 3,903 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of NuScale Power by 5,590.4% in the 1st quarter. GAMMA Investing LLC now owns 15,364 shares of the company’s stock valued at $218,000 after acquiring an additional 15,094 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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.