NuScale Power (NYSE:SMR) Stock Price Down 2.7% Following Insider Selling

NuScale Power Co. (NYSE:SMR) was down 2.7% on Tuesday following insider selling activity. The company traded as low as $9.25 and last traded at $9.42. Approximately 868,300 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,786,497 shares. The stock had previously closed at $9.68.

Specifically, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction dated Friday, September 13th. The stock was 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 is available at the SEC website.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SMR shares. B. Riley increased their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. CLSA started coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and an average target price of $8.63.

NuScale Power Trading Up 0.9 %

The business has a 50 day moving average price of $9.69 and a 200-day moving average price of $8.11. The firm has a market capitalization of $2.23 billion, a PE ratio of -10.79 and a beta of 1.22. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

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). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same quarter in the previous year, the business posted ($0.13) earnings per share. Analysts expect that NuScale Power Co. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. acquired a new stake in shares of NuScale Power during the first quarter valued at $53,000. Avantax Advisory Services Inc. purchased a new stake in NuScale Power in the first quarter valued at approximately $58,000. International Assets Investment Management LLC acquired a new position in NuScale Power during the second quarter worth approximately $64,000. TFC Financial Management Inc. purchased a new position in NuScale Power during the second quarter worth approximately $75,000. Finally, Resurgent Financial Advisors LLC boosted its holdings in shares of NuScale Power by 100.0% in the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after purchasing an additional 7,400 shares during 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.