NuScale Power (NYSE:SMR) Stock Price Down 9.2% on Insider Selling

NuScale Power Co. (NYSE:SMR)’s stock price was down 9.2% on Monday after an insider sold shares in the company. The company traded as low as $11.23 and last traded at $11.40. Approximately 2,860,390 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 4,937,124 shares. The stock had previously closed at $12.55.

Specifically, insider Robert K. Temple sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total value of $900,000.00. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $168,648. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SMR. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. Craig Hallum began coverage on shares of NuScale Power in a report on Thursday, September 26th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.68.

NuScale Power Trading Up 2.6 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $2.96 billion, a PE ratio of -13.98 and a beta of 1.22. The company’s 50 day simple moving average is $9.34 and its two-hundred day simple moving average is $8.49.

NuScale Power (NYSE:SMR) last announced its 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 company had revenue of $0.97 million for 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 last year, the business earned ($0.13) EPS.

Institutional Trading of NuScale Power

Several hedge funds have recently made changes to their positions in SMR. Swedbank AB acquired a new stake in shares of NuScale Power during the first quarter worth about $18,585,000. Van ECK Associates Corp acquired a new stake in shares of NuScale Power during the second quarter worth about $7,600,000. Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power during the first quarter worth about $1,328,000. Bank of New York Mellon Corp lifted its position in shares of NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after purchasing an additional 137,382 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of NuScale Power by 244.7% during the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after purchasing an additional 131,570 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.