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

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) fell 8.1% on Tuesday following insider selling activity. The stock traded as low as $20.81 and last traded at $21.74. 6,612,647 shares traded hands during mid-day 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 company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

SMR has been the subject of several recent analyst reports. Craig Hallum boosted 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 assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Trading Down 8.3 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock's fifty day moving average price is $22.83 and its two-hundred day moving average price is $15.41. The stock has a market capitalization of $5.54 billion, a P/E ratio of -22.84 and a beta of 1.47.

Institutional Trading of NuScale Power

Several hedge funds have recently added to or reduced their stakes in SMR. Bank of New York Mellon Corp lifted its stake in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock valued at $3,256,000 after acquiring an additional 137,382 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of NuScale Power during the second quarter valued at approximately $123,000. Commonwealth Equity Services LLC grew its holdings in shares of NuScale Power by 85.9% in the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company's stock worth $917,000 after purchasing an additional 36,236 shares during the last quarter. Rhumbline Advisers raised its holdings in NuScale Power by 62.9% during the 2nd quarter. Rhumbline Advisers now owns 104,341 shares of the company's stock valued at $1,220,000 after buying an additional 40,305 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in NuScale Power during the 2nd quarter valued at $115,000. 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.