NuScale Power (NYSE:SMR) Trading Down 6.6% After Insider Selling

Key Points

• NuScale Power's shares declined 6.6% following significant insider selling, with a total of over $36 million worth of stock sold by a director.
• Despite the recent drop, analysts have mixed ratings on NuScale Power, with three giving it a Buy rating and a consensus target price of $36.67.
• The company reported a quarterly loss of ($0.13) EPS, missing estimates, and had a negative net margin of 221.07% on revenue of $8.05 million.

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) fell 6.6% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $39.05 and last traded at $39.18. 19,206,625 shares were traded during mid-day trading, an increase of 53% from the average session volume of 12,578,918 shares. The stock had previously closed at $41.94.

Specifically, Director Corp Fluor sold 854,033 shares of NuScale Power stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $42.41, for a total value of $36,219,539.53. Following the sale, the director directly owned 908,761 shares in the company, valued at $38,540,554.01. This trade represents a 48.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corp Fluor sold 797,572 shares of NuScale Power stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $39.97, for a total transaction of $31,878,952.84. Following the completion of the sale, the director owned 1,762,794 shares in the company, valued at $70,458,876.18. The trade was a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, Director Corp Fluor sold 863,912 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $38.42, for a total transaction of $33,191,499.04. Following the completion of the transaction, the director directly owned 2,560,366 shares in the company, valued at $98,369,261.72. This represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SMR. Northland Securities started coverage on NuScale Power in a report on Monday, July 7th. They set a "market perform" rating and a $35.00 target price on the stock. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Canaccord Genuity Group increased their price objective on NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. BNP Paribas Exane assumed coverage on shares of NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price target on the stock. Finally, Royal Bank Of Canada started coverage on shares of NuScale Power in a research note on Monday, September 15th. They set a "sector perform" rating and a $35.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $36.67.

NuScale Power Price Performance

The company's 50-day moving average price is $38.69 and its two-hundred day moving average price is $31.82. The company has a market capitalization of $11.16 billion, a P/E ratio of -32.92 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results 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 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. On average, analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of NuScale Power

Institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in NuScale Power by 31.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock worth $2,734,000 after acquiring an additional 46,744 shares during the period. Fox Hill Wealth Management boosted its stake in NuScale Power by 29.1% in the second quarter. Fox Hill Wealth Management now owns 121,796 shares of the company's stock valued at $4,818,000 after buying an additional 27,462 shares in the last quarter. MFG Wealth Management Inc. acquired a new position in NuScale Power during the 2nd quarter worth approximately $1,829,000. California State Teachers Retirement System increased its holdings in shares of NuScale Power by 17.9% during the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock worth $1,429,000 after buying an additional 12,070 shares in the last quarter. Finally, Swedbank AB lifted its stake in shares of NuScale Power by 6.7% in the 1st quarter. Swedbank AB now owns 2,402,125 shares of the company's stock valued at $34,014,000 after acquiring an additional 149,875 shares during the last quarter. 78.37% of the stock is currently owned by 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.

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