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

NuScale Power Co. (NYSE:SMR) shares traded down 16.1% during trading on Friday following insider selling activity. The company traded as low as $11.08 and last traded at $11.86. 4,611,885 shares changed hands during mid-day 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 firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 in the company, valued at $7,810,211.91. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

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

NuScale Power Stock Down 11.1 %

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SMR. Vanguard Group Inc. boosted its position in shares of NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after purchasing an additional 635,271 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NuScale Power by 1.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after purchasing an additional 89,949 shares during the last quarter. Samsung C&T Corp bought a new stake in NuScale Power during the fourth quarter worth approximately $46,745,000. Geode Capital Management LLC grew its position in NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock worth $35,249,000 after buying an additional 135,613 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of NuScale Power by 41.4% in the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after buying an additional 511,168 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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.