NuScale Power (NYSE:SMR) Shares Down 5.5% After Insider Selling

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price was down 5.5% on Thursday following insider selling activity. The stock traded as low as $16.01 and last traded at $16.36. Approximately 2,738,811 shares were traded during trading, a decline of 77% from the average daily volume of 11,829,965 shares. The stock had previously closed at $17.32.

Specifically, VP Jacqueline F. Engel sold 24,618 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the sale, the vice president now directly owns 1,149 shares of the company's stock, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

Separately, UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.58.

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NuScale Power Trading Down 1.9 %

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 company's fifty day moving average price is $21.33 and its two-hundred day moving average price is $18.51. The firm has a market cap of $4.00 billion, a PE ratio of -16.48 and a beta of 1.58.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock worth $151,113,000 after buying an additional 635,271 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NuScale Power by 1.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company's stock worth $101,998,000 after acquiring an additional 89,949 shares during the period. Samsung C&T Corp purchased a new position in NuScale Power in the fourth quarter worth $46,745,000. Geode Capital Management LLC lifted its holdings in NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock valued at $35,249,000 after acquiring an additional 135,613 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company's stock worth $31,317,000 after purchasing an additional 511,168 shares in 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.