NuScale Power (NYSE:SMR) Shares Down 3.6%

NuScale Power Co. (NYSE:SMR)’s share price traded down 3.6% during mid-day trading on Thursday . The stock traded as low as $7.75 and last traded at $7.76. 439,775 shares traded hands during trading, a decline of 91% from the average session volume of 4,851,084 shares. The stock had previously closed at $8.05.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised their target price on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.15.

NuScale Power Stock Down 6.1 %

The firm has a fifty day moving average of $10.21 and a two-hundred day moving average of $7.74. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The firm had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. Sell-side analysts expect that NuScale Power Co. will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the transaction, the insider now owns 19,054 shares in the company, valued at approximately $190,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares in the company, valued at $190,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,544 shares of company stock worth $761,686. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB purchased a new position in shares of NuScale Power during the 1st quarter valued at about $18,585,000. Van ECK Associates Corp purchased a new position in NuScale Power during the second quarter valued at approximately $7,600,000. Bank of New York Mellon Corp boosted its position in shares of NuScale Power by 97.3% in 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 during the period. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power in the first quarter worth $1,328,000. Finally, Wedbush Securities Inc. lifted its stake in shares of NuScale Power by 84.9% during the 2nd quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock valued at $2,205,000 after buying an additional 86,600 shares in the last quarter. 15.28% of the stock is currently 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.