NuScale Power (NYSE:SMR) Stock Price Down 3.6% After Insider Selling

NuScale Power Co. (NYSE:SMR)’s stock price fell 3.6% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $22.65 and last traded at $22.80. 2,617,403 shares traded hands during mid-day 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 company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SMR shares. Craig Hallum raised their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Down 6.1 %

The company’s fifty day simple moving average is $22.83 and its 200 day simple moving average is $15.41. The firm has a market capitalization of $5.67 billion, a PE ratio of -23.39 and a beta of 1.47. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position 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 valued at $21,194,000 after acquiring an additional 317,285 shares during the last quarter. State Street Corp raised its holdings in 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 lifted its position in NuScale Power by 90.0% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NuScale Power by 57.2% in 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 in the last quarter. 78.37% 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.