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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price was down 16.1% on Friday following insider selling activity. The company traded as low as $11.08 and last traded at $11.86. Approximately 4,611,885 shares changed hands 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 NuScale Power stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares of the company's stock, valued at approximately $7,810,211.91. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

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

NuScale Power Stock Down 1.9 %

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 stock's fifty day simple moving average is $19.06 and its two-hundred day simple moving average is $19.84. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -14.56 and a beta of 1.64.

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Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $7,843,000 after acquiring an additional 460,487 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power during the 3rd quarter valued at $44,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in NuScale Power by 57.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company's stock valued at $4,074,000 after purchasing an additional 128,012 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in NuScale Power by 28.4% in the third quarter. Rockefeller Capital Management L.P. now owns 28,683 shares of the company's stock worth $332,000 after buying an additional 6,350 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new position in shares of NuScale Power during the 3rd quarter valued at $277,000. 78.37% of the stock is 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.