NuScale Power (NYSE:SMR) Shares Down 16.1% Following Insider Selling

NuScale Power Co. (NYSE:SMR) fell 16.1% during trading on Friday after an insider sold shares in the company. The company traded as low as $11.08 and last traded at $11.86. 4,611,885 shares traded hands during trading, a decline of 43% from the average session volume of 8,102,786 shares. The stock had previously closed at $14.14.

Specifically, CTO Jose N. Reyes, Jr. sold 33,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares of the company’s stock, valued at $7,810,211.91. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Separately, UBS Group lowered their price objective on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th.

NuScale Power Stock Performance

The stock’s 50-day moving average price is $19.18 and its 200-day moving average price is $19.73. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.55 billion, a P/E ratio of -13.23 and a beta of 1.64.

Hedge Funds Weigh In On NuScale Power

Large investors have recently bought and sold shares of the business. Samsung C&T Corp acquired a new stake in shares of NuScale Power during the 4th quarter worth approximately $46,745,000. Arrowstreet Capital Limited Partnership acquired a new stake in NuScale Power in the fourth quarter worth $22,823,000. Vanguard Group Inc. lifted its stake in NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after buying an additional 635,271 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of NuScale Power by 41.4% during the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after acquiring an additional 511,168 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 460,487 shares during the period. Institutional investors own 78.37% of the company’s stock.

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.