NuScale Power (NYSE:SMR) Stock Price Down 7.4% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s stock price was down 7.4% during mid-day trading on Thursday . The stock traded as low as $13.78 and last traded at $13.99. Approximately 2,604,813 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 8,094,160 shares. The stock had previously closed at $15.11.

Analyst Ratings Changes

Separately, UBS Group dropped 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 company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market capitalization of $3.99 billion, a PE ratio of -14.85 and a beta of 1.58. The company has a 50-day moving average of $19.79 and a two-hundred day moving average of $19.68.

Insider Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction 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 in the company, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $16,683.48. This trade represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Vanguard Group Inc. raised its holdings in shares of NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after buying an additional 635,271 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 buying an additional 89,949 shares during the last quarter. Samsung C&T Corp acquired a new stake in shares of NuScale Power during the fourth quarter valued at about $46,745,000. Geode Capital Management LLC lifted its stake in shares of NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock worth $35,249,000 after acquiring an additional 135,613 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in NuScale Power by 41.4% in the fourth 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. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.