NuScale Power (NYSE:SMR) Shares Down 3.3% After Insider Selling

NuScale Power Corporation (NYSE:SMR) fell 3.3% during trading on Friday after an insider sold shares in the company. The stock traded as low as $39.10 and last traded at $39.29. 35,636,791 shares changed hands during mid-day trading, an increase of 179% from the average session volume of 12,762,486 shares. The stock had previously closed at $40.61.

Specifically, Director Corp Fluor sold 87,900 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corp Fluor sold 820,861 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $40.68, for a total transaction of $33,392,625.48. Following the sale, the director directly owned 87,900 shares of the company’s stock, valued at $3,575,772. The trade was a 90.33% decrease in their position. The disclosure for this sale can be found here. In other NuScale Power news, Director Corp Fluor sold 854,033 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $42.41, for a total value of $36,219,539.53. Following the completion of the sale, the director owned 908,761 shares of the company’s stock, valued at approximately $38,540,554.01. This trade represents a 48.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several brokerages have weighed in on SMR. UBS Group raised their price target on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. BNP Paribas Exane began coverage on NuScale Power in a report on Friday, July 25th. They issued a “neutral” rating and a $41.00 price target for the company. BTIG Research downgraded NuScale Power from a “buy” rating to a “neutral” rating in a report on Wednesday, June 25th. Barclays began coverage on NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target for the company. Finally, Canaccord Genuity Group raised their price target on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.67.

NuScale Power Price Performance

The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of -33.02 and a beta of 2.02. The stock has a fifty day simple moving average of $37.96 and a 200-day simple moving average of $32.21.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The company had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. As a group, equities analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AdvisorNet Financial Inc increased its position in shares of NuScale Power by 4,483.3% in the third quarter. AdvisorNet Financial Inc now owns 1,375 shares of the company’s stock valued at $50,000 after buying an additional 1,345 shares in the last quarter. Breakthru Advisory Services LLC purchased a new stake in shares of NuScale Power in the third quarter valued at approximately $341,000. MFG Wealth Management Inc. increased its position in shares of NuScale Power by 58.1% in the third quarter. MFG Wealth Management Inc. now owns 73,091 shares of the company’s stock valued at $2,631,000 after buying an additional 26,860 shares in the last quarter. FCG Investment Co purchased a new stake in shares of NuScale Power in the third quarter valued at approximately $492,000. Finally, Accel Wealth Management increased its position in shares of NuScale Power by 18.5% in the third quarter. Accel Wealth Management now owns 6,877 shares of the company’s stock valued at $248,000 after buying an additional 1,075 shares in the last quarter. 78.37% of the stock is currently 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.