NuScale Power (NYSE:SMR) Shares Down 5% – Here’s What Happened

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

Analysts Set New Price Targets

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

NuScale Power Trading Down 7.2 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of -15.73 and a beta of 1.58. The company’s 50 day moving average is $20.37 and its 200 day moving average is $19.56.

Insider Activity at NuScale Power

In other news, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares in the company, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the transaction, the chief financial officer now owns 29,985 shares of the company’s stock, valued at $470,764.50. This trade represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 720,682 shares of company stock worth $12,840,747. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SMR. Charles Schwab Investment Management Inc. increased its position in shares of NuScale Power by 212.4% during 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 in the last quarter. Verition Fund Management LLC increased its holdings in shares of NuScale Power by 319.9% during 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. raised its stake in shares of NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after acquiring an additional 111,812 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of NuScale Power by 581.8% in the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after acquiring an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in NuScale Power during the 3rd quarter worth approximately $277,000. 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.