NuScale Power (NYSE:SMR) Trading Down 8.1% Following Insider Selling

NuScale Power Co. (NYSE:SMR) shares were down 8.1% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $20.81 and last traded at $21.74. Approximately 6,612,647 shares changed hands during trading, a decline of 31% from the average daily volume of 9,562,080 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 on Thursday, January 2nd. The stock was 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 in the company, valued at $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 available through the SEC website.

Analysts Set New Price Targets

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

NuScale Power Stock Performance

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 $5.04 billion, a price-to-earnings ratio of -20.78 and a beta of 1.47. The stock has a 50 day simple moving average of $22.81 and a two-hundred day simple moving average of $15.52.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the 3rd quarter valued at $44,000. US Bancorp DE purchased a new position in shares of NuScale Power in the 3rd quarter valued at about $54,000. CWM LLC lifted its position in shares of NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after acquiring an additional 5,191 shares during the period. Quest Partners LLC acquired a new position in NuScale Power during the second quarter worth $115,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of NuScale Power in the 3rd quarter worth about $116,000. Institutional investors and hedge funds 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.