NuScale Power (NYSE:SMR) Trading Down 3.4%

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

Analyst Upgrades and Downgrades

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

NuScale Power Trading Down 7.7 %

The company has a market cap of $1.24 billion, a PE ratio of -6.59 and a beta of 0.90. The firm has a fifty day moving average of $3.77 and a two-hundred day moving average of $3.74.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was 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 available through this hyperlink. Insiders own 3.06% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of NuScale Power by 11.2% in the 3rd quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after buying an additional 301,548 shares during the period. Raymond James & Associates acquired a new stake in shares of NuScale Power during the 3rd quarter worth about $439,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NuScale Power by 54.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company’s stock valued at $15,774,000 after buying an additional 1,132,131 shares in the last quarter. Swiss National Bank raised its holdings in shares of NuScale Power by 17.2% in the third quarter. Swiss National Bank now owns 62,600 shares of the company’s stock worth $307,000 after acquiring an additional 9,200 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in NuScale Power by 66.9% during the third quarter. Van ECK Associates Corp now owns 158,470 shares of the company’s stock valued at $777,000 after acquiring an additional 63,519 shares during the period. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.