Wedbush Securities Inc. Sells 2,769 Shares of NuScale Power Co. (NYSE:SMR)

Wedbush Securities Inc. reduced its position in shares of NuScale Power Co. (NYSE:SMR) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 317,831 shares of the company’s stock after selling 2,769 shares during the quarter. Wedbush Securities Inc. owned about 0.12% of NuScale Power worth $5,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its stake in shares of NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp raised its position in shares of NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after acquiring an additional 1,800 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of NuScale Power in the 4th quarter valued at $42,000. Amalgamated Bank boosted its position 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 purchasing an additional 986 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of NuScale Power by 2,980.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company’s stock worth $66,000 after purchasing an additional 3,576 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,114 shares of company stock worth $1,351,231 over the last ninety days. 1.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

NuScale Power Price Performance

SMR opened at $12.57 on Friday. The company has a fifty day simple moving average of $19.18 and a 200 day simple moving average of $19.66. 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 stock has a market cap of $3.55 billion, a P/E ratio of -13.23 and a beta of 1.58. NuScale Power Co. has a 12 month low of $4.61 and a 12 month high of $32.30.

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.