NuScale Power (NYSE:SMR) Stock Price Down 0.8% on Insider Selling

NuScale Power Co. (NYSE:SMR)’s stock price was down 0.8% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $9.35 and last traded at $9.60. Approximately 1,137,806 shares traded hands during trading, a decline of 76% from the average daily volume of 4,798,002 shares. The stock had previously closed at $9.68.

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

Analysts Set New Price Targets

A number of brokerages recently commented on SMR. B. Riley increased their price target 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 assumed coverage on shares of NuScale Power in a report 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 assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.63.

NuScale Power Stock Performance

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 stock has a 50-day simple moving average of $9.85 and a two-hundred day simple moving average of $8.06. The firm has a market capitalization of $2.35 billion, a P/E ratio of -11.39 and a beta of 1.22.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) 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 period last year, the business posted ($0.13) EPS. On average, equities research analysts anticipate that NuScale Power Co. will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of NuScale Power by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after buying an additional 4,014 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the second quarter worth $64,000. TFC Financial Management Inc. acquired a new stake in NuScale Power during the 2nd quarter worth about $75,000. Resurgent Financial Advisors LLC raised its position in NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after acquiring an additional 7,400 shares in the last quarter. Finally, Evanson Asset Management LLC boosted its holdings in NuScale Power by 44.3% during the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after buying an additional 7,986 shares in the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.