NuScale Power (NYSE:SMR) Trading Down 3.1% – Time to Sell?

NuScale Power Co. (NYSE:SMR)’s stock price fell 3.1% on Friday . The stock traded as low as $17.36 and last traded at $17.64. 1,342,710 shares were traded during mid-day trading, a decline of 84% from the average session volume of 8,181,720 shares. The stock had previously closed at $18.20.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Down 0.5 %

The firm’s fifty day simple moving average is $20.68 and its two-hundred day simple moving average is $19.23. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of -19.06 and a beta of 1.58.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now directly owns 1,149 shares in the company, valued at approximately $16,683.48. This represents a 95.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after buying an additional 635,271 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NuScale Power by 1.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after purchasing an additional 89,949 shares during the last quarter. Samsung C&T Corp purchased a new stake in shares of NuScale Power in the 4th quarter valued at approximately $46,745,000. Geode Capital Management LLC increased its position in shares of NuScale Power by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after purchasing an additional 135,613 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of NuScale Power by 41.4% in the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after purchasing an additional 511,168 shares during the last quarter. 78.37% of the stock is currently 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.