NuScale Power (NYSE:SMR) Shares Down 4.4%

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price traded down 4.4% during trading on Wednesday . The company traded as low as $5.43 and last traded at $5.47. 1,066,129 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,264,696 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SMR. 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 target price for the company. UBS Group upped their price objective 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. Wells Fargo & Company reissued an "underweight" rating and set a $4.50 target price (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group boosted their price target on NuScale Power from $4.25 to $8.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. 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 company. According to MarketBeat.com, NuScale Power presently has a consensus rating of "Hold" and an average target price of $7.75.

NuScale Power Stock Performance

The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -8.03 and a beta of 1.06. The business's 50 day moving average is $4.11 and its 200-day moving average is $3.72.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.06% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently bought and sold shares of SMR. Global Retirement Partners LLC bought a new position in shares of NuScale Power during the 4th quarter worth about $25,000. Ameritas Investment Partners Inc. grew its position in NuScale Power by 80.1% during the second quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company's stock worth $30,000 after buying an additional 1,968 shares in the last quarter. Essex Private Wealth Management LLC bought a new position in NuScale Power during the fourth quarter valued at about $33,000. Sloy Dahl & Holst LLC acquired a new position in NuScale Power in the 4th quarter valued at approximately $33,000. Finally, Arizona State Retirement System bought a new stake in shares of NuScale Power in the 4th quarter worth approximately $34,000. 15.28% 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.