NuScale Power (NYSE:SMR) Stock Price Down 6.3% After Insider Selling

NuScale Power Co. (NYSE:SMR) shares traded down 6.3% on Wednesday after an insider sold shares in the company. The company traded as low as $8.12 and last traded at $8.14. 766,581 shares were traded during mid-day trading, a decline of 84% from the average session volume of 4,913,567 shares. The stock had previously closed at $8.69.

Specifically, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

Separately, B. Riley boosted their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.15.

NuScale Power Price 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 business has a fifty day moving average price of $10.61 and a 200 day moving average price of $7.53.

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 analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. 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 firm posted ($0.13) EPS. Equities analysts anticipate that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMR. International Assets Investment Management LLC acquired a new stake in NuScale Power during the second quarter worth about $64,000. TFC Financial Management Inc. bought a new stake in shares of NuScale Power in the 2nd quarter worth approximately $75,000. Fortitude Family Office LLC acquired a new stake in shares of NuScale Power during the 2nd quarter worth approximately $98,000. Quest Partners LLC bought a new stake in shares of NuScale Power during the second quarter valued at approximately $115,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of NuScale Power during the first quarter valued at approximately $53,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.