NuScale Power (NYSE:SMR) Stock Price Down 6.7% Following Insider Selling

NuScale Power Co. (NYSE:SMR)’s share price fell 6.7% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $14.53 and last traded at $14.88. 4,196,113 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 11,756,413 shares. The stock had previously closed at $15.95.

Specifically, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the transaction, the vice president now owns 1,149 shares in the company, valued at $16,683.48. This represents a 95.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

Separately, UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.58.

NuScale Power Price Performance

The business’s 50 day simple moving average is $21.33 and its 200-day simple moving average is $18.51. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -15.66 and a beta of 1.58. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Institutional Trading of NuScale Power

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of NuScale Power by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after acquiring an additional 656 shares during the last quarter. Catalina Capital Group LLC grew its position in NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after purchasing an additional 809 shares during the period. HighTower Advisors LLC grew its holdings in NuScale Power by 7.3% during the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after buying an additional 820 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after buying an additional 986 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock valued at $159,000 after purchasing an additional 1,260 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.