NuScale Power (NYSE:SMR) Shares Down 5.5% Following Insider Selling

NuScale Power Co. (NYSE:SMR)’s stock price was down 5.5% on Tuesday after an insider sold shares in the company. The stock traded as low as $25.61 and last traded at $25.72. Approximately 4,266,478 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 6,386,280 shares. The stock had previously closed at $27.22.

Specifically, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SMR shares. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. Craig Hallum upped their price target on 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 issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Down 9.1 %

The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of -26.53 and a beta of 1.33. The business’s 50 day simple moving average is $19.23 and its 200 day simple moving average is $12.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently modified their holdings of SMR. Van ECK Associates Corp acquired a new stake in shares of NuScale Power during the second quarter valued at $7,600,000. Charles Schwab Investment Management Inc. increased its holdings in shares of NuScale Power by 212.4% during the 3rd 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. 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. TimesSquare Capital Management LLC acquired a new position in shares of NuScale Power in the 3rd quarter valued at about $2,895,000. Finally, State Street Corp grew its holdings in shares of NuScale Power by 10.2% during 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. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.