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

NuScale Power Co. (NYSE:SMR)’s share price fell 3.9% during trading on Monday after an insider sold shares in the company. The company traded as low as $5.91 and last traded at $5.92. 1,704,789 shares traded hands during mid-day 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 stock in a transaction on 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 approximately $115,657.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO John Lawrence Hopkins sold 59,768 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $6.07, for a total value of $144,502.42. Following the transaction, the general counsel now owns 19,054 shares in the company, valued at approximately $115,657.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,899 shares of company stock valued at $590,771. 1.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reiterated an “underweight” rating and issued a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Canaccord Genuity Group increased their target price on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Canaccord Genuity Group began coverage on shares of NuScale Power in a report on Monday, January 29th. They set a “buy” rating and a $4.25 price target on the stock. Finally, UBS Group increased their price objective 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 investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.75.

NuScale Power Trading Down 2.9 %

The company has a 50-day moving average price of $5.39 and a two-hundred day moving average price of $3.76. The stock has a market capitalization of $1.33 billion, a P/E ratio of -7.08 and a beta of 0.98.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.75 million. Research analysts forecast that NuScale Power Co. will post -0.64 earnings per share for the current year.

Institutional Investors Weigh In On NuScale Power

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