NuScale Power (NYSE:SMR) Trading Down 4.4%

NuScale Power Co. (NYSE:SMRGet Free Report) shares were down 4.4% during trading on Wednesday . The stock traded as low as $5.43 and last traded at $5.47. Approximately 1,066,129 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,264,696 shares. The stock had previously closed at $5.72.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Canaccord Genuity Group initiated coverage on shares of NuScale Power in a research report on Monday, January 29th. They set a “buy” rating and a $4.25 target price for the company. Finally, Canaccord Genuity Group upped their target price on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.75.

Read Our Latest Analysis on SMR

NuScale Power Stock Performance

The stock’s 50-day moving average is $4.03 and its 200 day moving average is $3.70. The firm has a market cap of $1.35 billion, a P/E ratio of -6.73 and a beta of 1.06.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.06% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new position in shares of NuScale Power during the 4th quarter worth about $25,000. Ameritas Investment Partners Inc. boosted its stake in shares of NuScale Power by 80.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock worth $30,000 after buying an additional 1,968 shares during the last quarter. Essex Private Wealth Management LLC acquired a new position in shares of NuScale Power during the 4th quarter worth about $33,000. Sloy Dahl & Holst LLC acquired a new stake in NuScale Power in the 4th quarter valued at about $33,000. Finally, Arizona State Retirement System acquired a new stake in NuScale Power in the 4th quarter valued at about $34,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

About NuScale Power

(Get Free Report)

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.

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