NuScale Power (NYSE:SMR) Shares Gap Down After Insider Selling

NuScale Power Co. (NYSE:SMR)’s share price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $24.17, but opened at $22.49. NuScale Power shares last traded at $23.88, with a volume of 2,489,781 shares changing hands.

Specifically, CEO John Lawrence Hopkins sold 26,345 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SMR shares. BTIG Research reaffirmed a “buy” rating on shares of NuScale Power in a report on Tuesday, May 13th. UBS Group cut their target price on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

NuScale Power Price Performance

The company has a market cap of $6.93 billion, a PE ratio of -25.83 and a beta of 1.62. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $16.80 and a 200-day simple moving average of $20.24.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. As a group, research analysts predict that NuScale Power Co. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. acquired a new stake in NuScale Power in the third quarter valued at approximately $555,000. JPMorgan Chase & Co. lifted its position in shares of NuScale Power by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after buying an additional 111,812 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in NuScale Power in the 4th quarter valued at $439,000. Janney Montgomery Scott LLC purchased a new stake in NuScale Power in the 4th quarter worth $202,000. Finally, Exchange Traded Concepts LLC raised its position in NuScale Power by 291.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 292,833 shares of the company’s stock worth $5,250,000 after acquiring an additional 217,998 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

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.