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

NuScale Power Co. (NYSE:SMR)’s stock price dropped 9.2% during mid-day trading on Monday following insider selling activity. The company traded as low as $11.23 and last traded at $11.40. Approximately 2,860,390 shares changed hands during 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 stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total transaction of $900,000.00. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $168,648. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $153,188.60. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. CLSA assumed coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. B. Riley raised their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Craig Hallum assumed coverage on shares of NuScale Power in a research note on Thursday. They issued a “buy” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.68.

NuScale Power Stock Performance

The firm’s fifty day moving average price is $9.32 and its 200-day moving average price is $8.43. 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 company has a market cap of $2.77 billion, a P/E ratio of -13.41 and a beta of 1.22.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted ($0.13) EPS. As a group, research analysts forecast that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of NuScale Power during the first quarter worth approximately $18,585,000. Van ECK Associates Corp acquired a new position in shares of NuScale Power during the second quarter worth approximately $7,600,000. Rheos Capital Works Inc. acquired a new position in shares of NuScale Power during the first quarter worth approximately $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 raised its stake 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 buying an additional 131,570 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.