Insider Selling: NuScale Power Co. (NYSE:SMR) Insider Sells 5,000 Shares of Stock

NuScale Power Co. (NYSE:SMR) insider Robert K. Temple sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total value of $47,850.00. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $134,496.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NuScale Power Stock Performance

Shares of SMR opened at $9.17 on Thursday. 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 Co. has a one year low of $1.81 and a one year high of $16.91. The business has a fifty day moving average of $9.69 and a 200 day moving average of $8.11.

NuScale Power (NYSE:SMR) 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 business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. As a group, sell-side analysts anticipate that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SMR. B. Riley lifted their price objective on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.63.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently made changes to their positions in SMR. Swedbank AB purchased a new position in shares of NuScale Power in the first quarter valued at about $18,585,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power in the second quarter worth about $7,600,000. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power in the first quarter worth about $1,328,000. Bank of New York Mellon Corp lifted its position in shares of NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after buying an additional 131,570 shares in the last quarter. 15.28% 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.