NuScale Power (NYSE:SMR) Stock Price Down 2.5% After Insider Selling

NuScale Power Corporation (NYSE:SMR) was down 2.5% during mid-day trading on Thursday following insider selling activity. The company traded as low as $8.77 and last traded at $9.06. 31,832,419 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 30,463,691 shares. The stock had previously closed at $9.29.

Specifically, Director Shinji Fujino sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total transaction of $177,200.00. Following the completion of the transaction, the director directly owned 17,242 shares in the company, valued at $152,764.12. The trade was a 53.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. B. Riley Financial lowered their price target on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Truist Financial initiated coverage on shares of NuScale Power in a research report on Monday, July 13th. They issued a “hold” rating and a $10.00 price objective on the stock. Royal Bank Of Canada lowered their target price on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Finally, Bank of America began coverage on shares of NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.50.

NuScale Power Price Performance

The company has a 50 day simple moving average of $9.37 and a 200-day simple moving average of $11.30. The stock has a market cap of $3.89 billion, a P/E ratio of -3.10 and a beta of 2.26.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The company’s revenue for the quarter was down 99.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. As a group, research analysts expect that NuScale Power Corporation will post -0.64 earnings per share for the current year.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. grew its position in NuScale Power by 50.2% during the second quarter. Wedbush Securities Inc. now owns 16,535 shares of the company’s stock valued at $166,000 after acquiring an additional 5,530 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of NuScale Power in the 2nd quarter worth approximately $92,000. Heck Capital Advisors LLC lifted its holdings in shares of NuScale Power by 33.5% in the 2nd quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock worth $164,000 after acquiring an additional 4,115 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of NuScale Power by 209.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock valued at $1,083,000 after purchasing an additional 73,100 shares in the last quarter. Finally, Adamsbrown Wealth Consultants LLC purchased a new stake in shares of NuScale Power in the 2nd quarter valued at $100,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.