NuScale Power (NYSE:SMR) Shares Down 7.3% Following Insider Selling

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price was down 7.3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $10.80 and last traded at $11.08. Approximately 1,908,696 shares changed hands during trading, a decline of 61% from the average daily volume of 4,891,333 shares. The stock had previously closed at $11.95.

Specifically, insider Robert K. Temple sold 144,627 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at $153,188.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SMR. CLSA initiated coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an "outperform" rating and a $11.00 price objective on the stock. B. Riley lifted their target price on shares of NuScale Power from $8.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.63.

NuScale Power Trading Up 0.7 %

The company has a market cap of $2.92 billion, a price-to-earnings ratio of -13.52 and a beta of 1.22. The business has a fifty day simple moving average of $9.35 and a 200 day simple moving average of $8.31. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same quarter last year, the business earned ($0.13) EPS. On average, equities analysts anticipate 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 modified their holdings of the company. Avantax Advisory Services Inc. acquired a new position in NuScale Power during the first quarter worth $58,000. SG Americas Securities LLC raised its stake in shares of NuScale Power by 268.3% during the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company's stock worth $286,000 after buying an additional 39,171 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of NuScale Power during the 4th quarter worth $417,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power in the 2nd quarter worth about $7,600,000. Finally, Rheos Capital Works Inc. acquired a new stake in NuScale Power in the 1st quarter valued at about $1,328,000. Hedge funds and other institutional investors own 15.28% of the company's stock.

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.