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

NuScale Power Co. (NYSE:SMR) dropped 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. Approximately 1,704,789 shares changed hands during trading, a decline of 59% from the average daily volume of 4,115,426 shares. The stock had previously closed at $6.16.

Specifically, CEO John Lawrence Hopkins sold 59,768 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Robert K. Temple sold 8,873 shares of NuScale Power stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $53,592.92. Following the transaction, the general counsel now directly owns 42,860 shares in the company, valued at approximately $258,874.40. The disclosure for this sale can be found here. Insiders have sold a total of 115,899 shares of company stock valued at $590,771 in the last three months. Corporate insiders own 1.96% of the company’s stock.

Wall Street Analyst Weigh In

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

NuScale Power Price Performance

The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -7.29 and a beta of 0.98. The company’s 50-day moving average price is $5.33 and its two-hundred day moving average price is $3.75.

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

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Private Capital Advisors Inc. purchased a new stake in shares of NuScale Power during the 1st quarter valued at about $159,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of NuScale Power in the 1st quarter worth approximately $53,000. Evanson Asset Management LLC lifted its holdings in shares of NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after acquiring an additional 7,986 shares during the last quarter. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power in the first quarter worth approximately $1,328,000. Finally, Quadrature Capital Ltd bought a new stake in shares of NuScale Power during the fourth quarter worth $417,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.