NuScale Power (NYSE:SMR) Stock Price Down 1.5% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) dropped 1.5% on Thursday . The stock traded as low as $16.52 and last traded at $16.86. Approximately 1,432,090 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 10,720,408 shares. The stock had previously closed at $17.12.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Performance

The firm has a market capitalization of $4.58 billion, a P/E ratio of -17.07 and a beta of 1.58. The company has a 50-day simple moving average of $20.60 and a two-hundred day simple moving average of $19.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Activity at NuScale Power

In other news, VP Jacqueline F. Engel sold 24,618 shares of the business’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 directly owns 1,149 shares of the company’s stock, valued at $16,683.48. The trade was a 95.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’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 transaction, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock worth $12,840,747 over the last ninety days. 1.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of 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 purchasing an additional 460,487 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after buying an additional 86,454 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of NuScale Power by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after buying an additional 111,812 shares during the last quarter. Stifel Financial Corp increased its position in shares of NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after acquiring an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in NuScale Power in the 3rd quarter valued at approximately $277,000. 78.37% of the stock is 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.