Insider Selling: NuScale Power Co. (NYSE:SMR) CEO Sells $11,988,806.72 in Stock

NuScale Power Co. (NYSE:SMR) 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 value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. This trade represents a 95.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NuScale Power Stock Down 9.1 %

Shares of NYSE SMR opened at $19.74 on Thursday. NuScale Power Co. has a 52-week low of $1.88 and a 52-week high of $32.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The business has a fifty day moving average of $22.81 and a two-hundred day moving average of $15.52. The stock has a market cap of $5.04 billion, a PE ratio of -20.78 and a beta of 1.47.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of NuScale Power by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after buying an additional 111,812 shares in the last quarter. Franklin Resources Inc. bought a new position in NuScale Power in the 3rd quarter valued at $555,000. Tidal Investments LLC acquired a new position in NuScale Power in the third quarter worth $118,000. Barclays PLC grew its holdings in shares of NuScale Power by 472.3% during the third quarter. Barclays PLC now owns 150,791 shares of the company’s stock worth $1,746,000 after purchasing an additional 124,441 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after buying an additional 317,285 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.