NuScale Power (NYSE:SMR) Shares Down 8% on Insider Selling

NuScale Power Co. (NYSE:SMR) was down 8% during trading on Wednesday following insider selling activity. The stock traded as low as $11.81 and last traded at $11.87. Approximately 2,899,195 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 5,002,001 shares. The stock had previously closed at $12.90.

Specifically, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction on Friday, October 4th. The shares were sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $182,983.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMR. Craig Hallum started coverage on shares of NuScale Power in a research note on Thursday, September 26th. They issued a “buy” rating and a $16.00 target price on the stock. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Finally, B. Riley increased their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, NuScale Power has an average rating of “Moderate Buy” and a consensus target price of $9.68.

NuScale Power Stock Down 8.0 %

The business has a fifty day moving average of $9.58 and a 200-day moving average of $8.72. The stock has a market cap of $2.96 billion, a PE ratio of -13.96 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results 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). The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same period in the previous year, the company posted ($0.13) EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Avantax Advisory Services Inc. bought a new stake in NuScale Power during the first quarter valued at about $58,000. CWM LLC grew its position in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of NuScale Power during the 2nd quarter worth approximately $64,000. TFC Financial Management Inc. purchased a new stake in NuScale Power during the second quarter valued at approximately $75,000. Finally, Resurgent Financial Advisors LLC boosted its stake in NuScale Power by 100.0% in 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. 15.28% of the stock is currently 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.