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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price dropped 8.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $20.81 and last traded at $21.74. Approximately 6,612,647 shares changed hands during mid-day trading, a decline of 31% from the average daily 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 company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

Several research analysts recently weighed in on SMR shares. CLSA started coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price objective for the company. Craig Hallum upped their price target on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, NuScale Power presently has an average rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Trading Down 8.3 %

The business has a 50 day moving average of $22.83 and a 200 day moving average of $15.41. 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 firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -22.84 and a beta of 1.47.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of SMR. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the third quarter valued at approximately $44,000. US Bancorp DE bought a new stake in shares of NuScale Power in the 3rd quarter valued at $54,000. CWM LLC raised its stake in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company's stock worth $61,000 after buying an additional 5,191 shares during the period. Quest Partners LLC bought a new position in NuScale Power during the second quarter worth about $115,000. Finally, Victory Capital Management Inc. acquired a new position in NuScale Power in the third quarter valued at about $116,000. 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.