NuScale Power (NYSE:SMR) Shares Down 0.8% Following Insider Selling

NuScale Power Co. (NYSE:SMR)’s stock price was down 0.8% on Monday following insider selling activity. The stock traded as low as $9.35 and last traded at $9.60. Approximately 1,137,806 shares changed hands during 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 firm’s 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 transaction, the insider now owns 14,054 shares in the company, valued at $134,496.78. The sale was disclosed in a document filed with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

SMR has been the subject of several research analyst reports. B. Riley boosted their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. CLSA assumed coverage on NuScale Power in a research note on Friday. They issued an “outperform” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.63.

NuScale Power Stock Up 1.7 %

The firm’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $8.01. 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 $2.39 billion, a P/E ratio of -11.29 and a beta of 1.22.

NuScale Power (NYSE:SMR) last issued 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). 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 period last year, the company posted ($0.13) earnings per share. As a group, research analysts expect that NuScale Power Co. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in NuScale Power during the second quarter worth $64,000. TFC Financial Management Inc. acquired a new position in shares of NuScale Power during the 2nd quarter worth about $75,000. Fortitude Family Office LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at about $98,000. Quest Partners LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at about $115,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in NuScale Power in the 1st quarter valued at about $53,000. 15.28% of the stock is owned by 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.