NuScale Power (NYSE:SMR) Trading Down 3.4%

NuScale Power Co. (NYSE:SMR)’s stock price dropped 3.4% during trading on Tuesday . The company traded as low as $3.90 and last traded at $3.93. Approximately 1,838,655 shares changed hands during trading, a decline of 51% from the average daily volume of 3,777,372 shares. The stock had previously closed at $4.07.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SMR. Canaccord Genuity Group boosted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Wells Fargo & Company reiterated an “underweight” rating and issued a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. UBS Group boosted their price target on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group started coverage on shares of NuScale Power in a report on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.75.

NuScale Power Stock Performance

The company has a market capitalization of $1.24 billion, a PE ratio of -6.59 and a beta of 0.90. The company’s 50-day moving average is $3.77 and its 200 day moving average is $3.74.

Insider Buying and Selling

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Global Retirement Partners LLC bought a new position in NuScale Power in the 4th quarter valued at $25,000. Ameritas Investment Partners Inc. boosted its position in NuScale Power by 80.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock valued at $30,000 after buying an additional 1,968 shares during the period. Essex Private Wealth Management LLC purchased a new position in shares of NuScale Power during the fourth quarter worth approximately $33,000. Sloy Dahl & Holst LLC bought a new stake in shares of NuScale Power during the fourth quarter valued at approximately $33,000. Finally, Arizona State Retirement System purchased a new stake in shares of NuScale Power in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.