NuScale Power (NYSE:SMR) Stock Price Down 4.7% on Insider Selling

Key Points

• NuScale Power's stock fell 4.7% following insider selling by CFO Robert Ramsey Hamady, who sold over 30,000 shares, significantly reducing his position by 39.83%.
• Analysts have mostly issued neutral ratings on NuScale Power, with price targets ranging from $34.00 to $46.00, while the company has an average rating of "Hold" and a current market cap of $9.94 billion.
• In its latest earnings report, NuScale Power missed estimates with a reported EPS of ($0.13) and revenue of $8.05 million, below the consensus estimate of $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report) fell 4.7% during trading on Friday following insider selling activity. The company traded as low as $34.45 and last traded at $34.76. 3,269,578 shares changed hands during trading, a decline of 72% from the average session volume of 11,499,889 shares. The stock had previously closed at $36.48.

Specifically, CFO Robert Ramsey Hamady sold 30,641 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the sale, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,647,211.97. This trade represents a 39.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

Several analysts have commented on the stock. UBS Group raised their target price on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Bank of America began coverage on shares of NuScale Power in a report on Thursday, August 21st. They issued a "neutral" rating and a $36.00 price objective on the stock. BNP Paribas Exane began coverage on shares of NuScale Power in a report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price objective on the stock. Citigroup began coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective on the stock. Finally, Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $34.60.

NuScale Power Price Performance

The stock's 50-day simple moving average is $40.56 and its 200 day simple moving average is $28.08. The stock has a market capitalization of $9.94 billion, a P/E ratio of -29.28 and a beta of 2.06.

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

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the business. Harbour Investments Inc. raised its stake in NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after purchasing an additional 203 shares in the last quarter. D.A. Davidson & CO. raised its stake in NuScale Power by 1.0% during the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock worth $824,000 after acquiring an additional 212 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in NuScale Power by 14.8% during the second quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company's stock worth $95,000 after acquiring an additional 341 shares in the last quarter. Rothschild Investment LLC raised its stake in NuScale Power by 45.2% during the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock worth $45,000 after acquiring an additional 350 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after acquiring an additional 359 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

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.

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