NuScale Power (NYSE:SMR) Stock Price Down 5% – Here’s Why

NuScale Power Co. (NYSE:SMR) shares were down 5% during mid-day trading on Friday . The company traded as low as $15.29 and last traded at $15.29. Approximately 1,687,848 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 8,116,868 shares. The stock had previously closed at $16.10.

Wall Street Analyst Weigh In

Separately, UBS Group decreased 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 $4.21 billion, a price-to-earnings ratio of -15.70 and a beta of 1.58. The stock’s 50 day simple moving average is $20.51 and its 200-day simple moving average is $19.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the company’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 completion of the transaction, the vice president now owns 1,149 shares of the company’s stock, valued at $16,683.48. This represents a 95.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock valued at $12,840,747 over the last three months. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of NuScale Power by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after purchasing an additional 656 shares during the period. HighTower Advisors LLC boosted its stake in NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares in the last quarter. Amalgamated Bank grew its holdings in NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after acquiring an additional 986 shares during the last quarter. Summit Investment Advisors Inc. raised its position in NuScale Power by 16.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock worth $159,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in NuScale Power by 6.6% in the 4th quarter. Corient Private Wealth LLC now owns 21,130 shares of the company’s stock worth $379,000 after purchasing an additional 1,314 shares during the last quarter. 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.