Insider Selling: NuScale Power Co. (NYSE:SMR) CTO Sells 15,776 Shares of Stock

NuScale Power Co. (NYSE:SMR) CTO Jose N. Reyes, Jr. sold 15,776 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $95,287.04. Following the transaction, the chief technology officer now owns 478,306 shares of the company’s stock, valued at approximately $2,888,968.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NuScale Power Stock Performance

NYSE:SMR opened at $5.66 on Wednesday. The firm has a 50-day simple moving average of $5.39 and a 200-day simple moving average of $3.76. NuScale Power Co. has a one year low of $1.81 and a one year high of $11.21. The firm has a market cap of $1.33 billion, a P/E ratio of -7.08 and a beta of 0.98.

NuScale Power (NYSE:SMR) last posted its earnings results 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 company had revenue of $4.56 million for the quarter, compared to analysts’ expectations of $1.75 million. On average, research analysts predict that NuScale Power Co. will post -0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Canaccord Genuity Group boosted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. UBS Group raised their target price on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group initiated coverage on NuScale Power in a research note on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective on the stock. One equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.75.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of NuScale Power by 11.2% during the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock valued at $14,619,000 after buying an additional 301,548 shares during the last quarter. Vanguard Group Inc. lifted its position in NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after acquiring an additional 204,505 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in NuScale Power by 5.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after acquiring an additional 172,408 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of NuScale Power during the fourth quarter worth $34,000. Finally, Raymond James & Associates purchased a new stake in shares of NuScale Power during the 3rd quarter valued at $439,000. 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.