NuScale Power (NYSE:SMR) Shares Down 6.8%

NuScale Power Co. (NYSE:SMR) shares were down 6.8% during mid-day trading on Tuesday . The stock traded as low as $8.71 and last traded at $8.78. Approximately 1,455,311 shares traded hands during trading, a decline of 71% from the average daily volume of 5,000,255 shares. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

Separately, B. Riley upped their target price on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.15.

NuScale Power Stock Down 5.3 %

The stock has a market cap of $2.17 billion, a PE ratio of -10.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.84 and a current ratio of 2.66. The company’s 50-day moving average price is $10.68 and its 200 day moving average price is $7.28.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate 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 business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same period in the previous year, the company earned ($0.13) EPS. As a group, analysts forecast that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert K. Temple sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 19,054 shares of the company’s stock, valued at approximately $190,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Robert K. Temple sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 19,054 shares of the company’s stock, valued at approximately $190,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the sale, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at $266,539.17. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after buying an additional 4,014 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in NuScale Power during the 2nd quarter valued at approximately $64,000. TFC Financial Management Inc. purchased a new stake in NuScale Power during the 2nd quarter valued at approximately $75,000. Resurgent Financial Advisors LLC grew its holdings in NuScale Power by 100.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after buying an additional 7,400 shares in the last quarter. Finally, Evanson Asset Management LLC grew its holdings in NuScale Power by 44.3% during the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after buying an additional 7,986 shares in the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.