NuScale Power (NYSE:SMR) Shares Down 6.7% Following Insider Selling

NuScale Power Co. (NYSE:SMR)’s share price fell 6.7% during mid-day trading on Friday following insider selling activity. The company traded as low as $14.53 and last traded at $14.88. 4,196,113 shares traded hands during trading, a decline of 64% from the average session volume of 11,756,413 shares. The stock had previously closed at $15.95.

Specifically, VP Jacqueline F. Engel sold 24,618 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

Separately, UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Moderate Buy” and an average price target of $12.58.

NuScale Power Price Performance

The company has a 50 day simple moving average of $21.33 and a 200-day simple moving average of $18.51. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -16.48 and a beta of 1.58. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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 shares of NuScale Power during the 4th quarter worth approximately $22,823,000. Vanguard Group Inc. raised 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 worth $151,113,000 after purchasing an additional 635,271 shares during the period. Van ECK Associates Corp raised its position in shares of NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after purchasing an additional 511,168 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 460,487 shares during the period. 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.