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

NuScale Power Co. (NYSE:SMR)’s stock price dropped 0.8% on Monday following insider selling activity. The company traded as low as $9.35 and last traded at $9.60. Approximately 1,137,806 shares changed hands during mid-day 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 business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $134,496.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. CLSA initiated coverage on NuScale Power in a research note on Friday. They issued an “outperform” rating and a $11.00 price objective for the company. B. Riley lifted their price target on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.63.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $2.35 billion, a PE ratio of -11.39 and a beta of 1.22. The firm’s 50 day moving average is $9.85 and its two-hundred day moving average is $8.06.

NuScale Power (NYSE:SMR) last posted its quarterly 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 net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same period in the prior year, the business earned ($0.13) EPS. As a group, research analysts predict that NuScale Power Co. will post -0.55 earnings per share for the current year.

Institutional Trading of NuScale Power

A number of institutional investors have recently bought and sold shares of the business. Swiss National Bank boosted its stake in NuScale Power by 17.3% in the fourth quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $241,000 after acquiring an additional 10,800 shares in the last quarter. Jump Financial LLC acquired a new position in NuScale Power during the fourth quarter worth approximately $408,000. Quadrature Capital Ltd purchased a new stake in NuScale Power in the fourth quarter valued at approximately $417,000. Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power in the first quarter valued at approximately $1,328,000. Finally, Evanson Asset Management LLC increased its holdings in shares of NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after acquiring an additional 7,986 shares during the period. 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.