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

Shares of NuScale Power Co. (NYSE:SMR) were 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 traded 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 company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

SMR has been the topic of several research reports. Craig Hallum upped their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The stock has a market cap of $6.35 billion, a P/E ratio of -26.19 and a beta of 1.33. 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 stock has a 50 day simple moving average of $19.56 and a 200 day simple moving average of $13.11.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power during the third quarter worth about $44,000. US Bancorp DE acquired a new position in NuScale Power during the third quarter valued at approximately $54,000. CWM LLC lifted its stake in NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the 2nd quarter valued at $64,000. Finally, TFC Financial Management Inc. bought a new position in shares of NuScale Power in the 2nd quarter valued at $75,000. Institutional investors own 15.28% 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.