NuScale Power (NYSE:SMR) Shares Down 5.8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares were down 5.8% during mid-day trading on Thursday . The stock traded as low as $24.71 and last traded at $24.87. Approximately 3,919,197 shares traded hands during trading, a decline of 68% from the average daily volume of 12,249,309 shares. The stock had previously closed at $26.40.

Wall Street Analyst Weigh In

Separately, Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.42.

NuScale Power Stock Performance

The stock has a market cap of $6.26 billion, a PE ratio of -25.82 and a beta of 1.51. 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 firm has a 50 day moving average price of $22.10 and a 200 day moving average price of $17.45.

Insider Activity

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC lifted its stake in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares in the last quarter. Twin Tree Management LP acquired a new stake in NuScale Power in the 4th quarter valued at about $42,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power in the 3rd quarter valued at about $44,000. Finally, Amalgamated Bank raised its position in NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after purchasing an additional 986 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.