NuScale Power (NYSE:SMR) Trading Down 3.6% Following Insider Selling

NuScale Power Co. (NYSE:SMR)’s stock price fell 3.6% during trading on Tuesday following insider selling activity. The stock traded as low as $22.65 and last traded at $22.80. 2,617,403 shares changed hands during trading, a decline of 70% from the average session volume of 8,824,839 shares. The stock had previously closed at $23.66.

Specifically, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value 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. This represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. Craig Hallum increased their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Down 6.1 %

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 company has a market capitalization of $5.67 billion, a PE ratio of -23.39 and a beta of 1.47. The business has a 50-day moving average of $22.83 and a 200 day moving average of $15.41.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after acquiring an additional 317,285 shares during the last quarter. State Street Corp boosted its holdings in shares of NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after purchasing an additional 154,368 shares during the period. Van ECK Associates Corp increased its position in shares of NuScale Power by 90.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after purchasing an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NuScale Power by 57.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after buying an additional 128,012 shares during the period. Institutional investors own 78.37% 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.