Insider Selling: NuScale Power Co. (NYSE:SMR) Insider Sells 50,000 Shares of Stock

NuScale Power Co. (NYSE:SMR - Get Free Report) insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now directly owns 19,054 shares of the company's stock, valued at approximately $190,540. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

NuScale Power Trading Down 0.5 %

Shares of NYSE:SMR traded down $0.05 during midday trading on Thursday, reaching $9.38. The company had a trading volume of 4,707,030 shares, compared to its average volume of 5,046,039. NuScale Power Co. has a 52-week low of $1.81 and a 52-week high of $16.91. The company's 50 day moving average price is $10.61 and its 200 day moving average price is $7.12. The stock has a market cap of $2.28 billion, a P/E ratio of -11.62 and a beta of 1.25.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The company had revenue of $0.97 million for the quarter, compared to analysts' expectations of $1.43 million. NuScale Power had a negative return on equity of 56.25% and a negative net margin of 592.28%. During the same quarter in the previous year, the business earned ($0.13) EPS. Research analysts forecast that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently made changes to their positions in the stock. Sloy Dahl & Holst LLC bought a new position in shares of NuScale Power in the fourth quarter valued at approximately $33,000. Arizona State Retirement System purchased a new stake in shares of NuScale Power in the 4th quarter valued at about $34,000. Raymond James Financial Services Advisors Inc. purchased a new stake in NuScale Power in the fourth quarter valued at approximately $36,000. Peregrine Asset Advisers Inc. purchased a new stake in shares of NuScale Power during the 4th quarter valued at $39,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in NuScale Power in the first quarter valued at $53,000. Hedge funds and other institutional investors own 15.28% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, June 27th. One investment 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. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of "Hold" and a consensus target price of $8.15.

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.