Insider Selling: NuScale Power Co. (NYSE:SMR) General Counsel Sells 23,806 Shares of Stock

NuScale Power Co. (NYSE:SMR) 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 completion of the transaction, the general counsel now owns 19,054 shares in the company, valued at $115,657.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NuScale Power Stock Performance

NuScale Power stock opened at $5.83 on Tuesday. The company’s 50 day simple moving average is $5.33 and its 200-day simple moving average is $3.75. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -7.29 and a beta of 0.98. NuScale Power Co. has a 1 year low of $1.81 and a 1 year high of $11.21.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share 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 business had revenue of $4.56 million for the quarter, compared to analysts’ expectations of $1.75 million. Equities analysts expect that NuScale Power Co. will post -0.64 earnings per share for the current year.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. SG Americas Securities LLC purchased a new stake in NuScale Power during the 3rd quarter worth approximately $143,000. Raymond James & Associates purchased a new stake in NuScale Power during the 3rd quarter worth approximately $439,000. J.W. Cole Advisors Inc. increased its stake in NuScale Power by 37.2% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 42,843 shares of the company’s stock worth $210,000 after buying an additional 11,625 shares during the period. Bank of New York Mellon Corp increased its stake in NuScale Power by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 148,639 shares of the company’s stock worth $728,000 after buying an additional 2,844 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NuScale Power by 153.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,064 shares of the company’s stock valued at $133,000 after purchasing an additional 16,371 shares during the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on SMR shares. Canaccord Genuity Group started coverage on shares of NuScale Power in a report on Monday, January 29th. They issued a “buy” rating and a $4.25 target price on the stock. Canaccord Genuity Group boosted their target price on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a report on Monday, March 18th. UBS Group boosted their price target 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. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $4.50 price target (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of “Hold” and a consensus target price of $7.75.

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.