NuScale Power (NYSE:SMR) Shares Gap Down – Time to Sell?

NuScale Power Co. (NYSE:SMR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $18.53, but opened at $17.84. NuScale Power shares last traded at $18.66, with a volume of 903,873 shares traded.

Analyst Ratings Changes

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

NuScale Power Stock Up 0.8 %

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 company has a market cap of $5.28 billion, a P/E ratio of -19.68 and a beta of 1.58. The firm has a fifty day moving average price of $20.75 and a 200 day moving average price of $19.08.

Insider Activity at NuScale Power

In related news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction 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 sale, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the sale, 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. Insiders sold a total of 720,682 shares of company stock valued at $12,840,747 over the last quarter. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in NuScale Power by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after acquiring an additional 656 shares during the period. HighTower Advisors LLC lifted its holdings in shares of NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after purchasing an additional 820 shares in the last quarter. Amalgamated Bank grew its position in shares of 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 during the period. Summit Investment Advisors Inc. boosted its holdings in shares of NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock valued at $159,000 after buying an additional 1,260 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in NuScale Power by 6.6% in the 4th quarter. Corient Private Wealth LLC now owns 21,130 shares of the company’s stock worth $379,000 after purchasing an additional 1,314 shares during the period. 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.