NuScale Power (NYSE:SMR) Shares Down 3.9% on Insider Selling

NuScale Power Co. (NYSE:SMR)’s share price traded down 3.9% during mid-day trading on Monday following insider selling activity. The company traded as low as $5.91 and last traded at $5.92. 1,704,789 shares were traded during trading, a decline of 59% from the average session volume of 4,115,426 shares. The stock had previously closed at $6.16.

Specifically, General Counsel Robert K. Temple sold 23,806 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the transaction, the general counsel now directly owns 19,054 shares in the company, valued at $115,657.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the transaction, the general counsel now owns 19,054 shares in the company, valued at $115,657.78. The disclosure for this sale can be found here. Insiders have sold 115,899 shares of company stock valued at $590,771 in the last 90 days. Company insiders own 1.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group increased their price objective on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wells Fargo & Company restated an “underweight” rating and set a $4.50 price objective (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Canaccord Genuity Group assumed coverage on shares of NuScale Power in a research note on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective for the company. Finally, UBS Group upped their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.75.

NuScale Power Price Performance

The firm’s fifty day moving average price is $5.33 and its two-hundred day moving average price is $3.75. The stock has a market cap of $1.37 billion, a P/E ratio of -7.29 and a beta of 0.98.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. The business had revenue of $4.56 million during the quarter, compared to the consensus estimate of $1.75 million. On average, research analysts expect that NuScale Power Co. will post -0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of NuScale Power during the 4th quarter valued at approximately $25,000. Essex Private Wealth Management LLC acquired a new position in shares of NuScale Power during the fourth quarter worth $33,000. Sloy Dahl & Holst LLC acquired a new stake in NuScale Power in the fourth quarter worth about $33,000. Arizona State Retirement System purchased a new stake in NuScale Power during the 4th quarter worth approximately $34,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in NuScale Power during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.