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 firm’s stock in a transaction dated 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 owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NuScale Power Stock Down 8.3 %

NuScale Power stock opened at $21.70 on Wednesday. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -22.84 and a beta of 1.47. The company’s 50 day simple moving average is $22.84 and its 200 day simple moving average is $15.49. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. NuScale Power Co. has a fifty-two week low of $1.88 and a fifty-two week high of $32.30.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Canal Insurance CO increased its position in shares of NuScale Power by 35.0% in the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after buying an additional 56,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares during the period. Verition Fund Management LLC increased its holdings in shares of NuScale Power by 319.9% in the third 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 in the last quarter. Stifel Financial Corp raised its position in shares of NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after purchasing an additional 100,995 shares during the period. Finally, Benjamin Edwards Inc. bought a new position in shares of NuScale Power during the 3rd quarter valued at about $277,000. 78.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SMR. CLSA started coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. Craig Hallum lifted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.39.

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.