NuScale Power (NYSE:SMR) Shares Down 8.1% Following Insider Selling

NuScale Power Co. (NYSE:SMR) shares traded down 8.1% during trading on Tuesday following insider selling activity. The stock traded as low as $20.81 and last traded at $21.74. 6,612,647 shares were traded during trading, a decline of 31% from the average session volume of 9,562,080 shares. The stock had previously closed at $23.66.

Specifically, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SMR shares. Craig Hallum raised their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Down 8.1 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $22.83 and a 200 day moving average of $15.41. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of -22.88 and a beta of 1.47.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NuScale Power by 212.4% in 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. Geode Capital Management LLC grew its holdings in shares of NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after purchasing an additional 317,285 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of NuScale Power during the 3rd quarter worth approximately $2,895,000. Finally, State Street Corp lifted its holdings in shares of NuScale Power by 10.2% in 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 last quarter. 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.