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

NuScale Power Co. (NYSE:SMR) shares were down 16.1% during trading on Friday after an insider sold shares in the company. The stock traded as low as $11.08 and last traded at $11.86. Approximately 4,611,885 shares were traded during trading, a decline of 43% from the average daily 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 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 completion of the transaction, the chief technology officer now owns 516,207 shares in the company, valued at approximately $7,810,211.91. This represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

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

NuScale Power Trading Down 11.1 %

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SMR. Samsung C&T Corp acquired a new stake in shares of NuScale Power in the 4th quarter valued at approximately $46,745,000. Arrowstreet Capital Limited Partnership bought a new stake in NuScale Power in the 4th quarter valued at $22,823,000. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 635,271 shares in the last quarter. Van ECK Associates Corp increased its position in NuScale Power by 41.4% during the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after acquiring an additional 511,168 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in NuScale Power by 212.4% in 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 in the last quarter. 78.37% of the stock is currently owned by institutional investors.

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.