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

NuScale Power Co. (NYSE:SMR)’s share price traded down 0.8% during trading on Monday after an insider sold shares in the company. The company traded as low as $9.35 and last traded at $9.60. 1,137,806 shares were traded during trading, a decline of 76% from the average session volume of 4,798,002 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 on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the sale, the insider now owns 14,054 shares in the company, valued at $134,496.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

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

NuScale Power Price Performance

The company’s 50 day simple moving average is $9.93 and its two-hundred day simple moving average is $8.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick 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 released its quarterly earnings results 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 business 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 in the prior year, the business earned ($0.13) earnings per share. As a group, equities analysts expect that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the second quarter valued at approximately $64,000. TFC Financial Management Inc. bought a new position in NuScale Power in the second quarter valued at about $75,000. Fortitude Family Office LLC bought a new stake in NuScale Power during the 2nd quarter worth about $98,000. Quest Partners LLC acquired a new position in NuScale Power during the 2nd quarter valued at about $115,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of NuScale Power during the 1st quarter worth approximately $53,000. 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.