NuScale Power (NYSE:SMR) Trading Down 2.7% After Insider Selling

NuScale Power Co. (NYSE:SMR)’s share price fell 2.7% on Tuesday following insider selling activity. The stock traded as low as $9.25 and last traded at $9.42. 868,300 shares traded hands during trading, a decline of 82% from the average session volume of 4,786,497 shares. The stock had previously closed at $9.68.

Specifically, insider Robert K. Temple sold 5,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $134,496.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMR. B. Riley upped their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. CLSA started coverage on NuScale Power in a research note on Friday. They set an “outperform” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.63.

NuScale Power Stock Performance

The firm has a market cap of $2.29 billion, a P/E ratio of -11.08 and a beta of 1.22. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $9.85 and its two-hundred day moving average is $8.06.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. During the same quarter last year, the business posted ($0.13) earnings per share. As a group, equities analysts predict that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Avantax Advisory Services Inc. purchased a new stake in NuScale Power in the 1st quarter valued at about $58,000. SG Americas Securities LLC increased its position in shares of NuScale Power by 268.3% during the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock valued at $286,000 after acquiring an additional 39,171 shares during the last quarter. Quadrature Capital Ltd bought a new stake in NuScale Power during the fourth quarter worth $417,000. Van ECK Associates Corp purchased a new position in NuScale Power in the second quarter worth $7,600,000. Finally, Rheos Capital Works Inc. bought a new position in NuScale Power in the 1st quarter valued at $1,328,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

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.