NuScale Power (NYSE:SMR) Shares Down 16.1% After Insider Selling

NuScale Power Co. (NYSE:SMR)’s stock price fell 16.1% during trading on Friday following insider selling activity. The company traded as low as $11.08 and last traded at $11.86. 4,611,885 shares traded hands during trading, a decline of 43% from the average session volume of 8,102,786 shares. The stock had previously closed at $14.14.

Specifically, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now owns 516,207 shares of the company’s stock, valued at $7,810,211.91. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th.

NuScale Power Trading Down 11.1 %

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 firm has a market cap of $3.55 billion, a price-to-earnings ratio of -13.23 and a beta of 1.64. The company has a 50-day moving average price of $19.18 and a 200 day moving average price of $19.73.

Institutional Trading of NuScale Power

A number of institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Verition Fund Management LLC raised its holdings in NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after acquiring an additional 86,454 shares during the period. JPMorgan Chase & Co. lifted its position in NuScale Power by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after acquiring an additional 111,812 shares during the last quarter. Stifel Financial Corp boosted its holdings in NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after acquiring an additional 100,995 shares during the period. Finally, Benjamin Edwards Inc. acquired a new stake in shares of NuScale Power in the third quarter valued at about $277,000. 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.