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

NuScale Power Co. (NYSE:SMR) shares gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $24.17, but opened at $22.49. NuScale Power shares last traded at $23.88, with a volume of 2,489,781 shares trading hands.

Specifically, CEO John Lawrence Hopkins sold 26,345 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. BTIG Research restated a “buy” rating on shares of NuScale Power in a report on Tuesday, May 13th. UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, NuScale Power has a consensus rating of “Moderate Buy” and an average price target of $16.60.

NuScale Power Price Performance

The company’s 50-day moving average is $16.62 and its 200-day moving average is $20.20. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of -25.00 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. On average, research analysts expect that NuScale Power Co. will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of SMR. Voleon Capital Management LP acquired a new position in shares of NuScale Power during the first quarter worth $741,000. Jones Financial Companies Lllp lifted its holdings in NuScale Power by 9.1% in the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock worth $238,000 after buying an additional 1,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock valued at $96,880,000 after buying an additional 1,153,158 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of NuScale Power during the first quarter valued at about $390,000. Finally, AQR Capital Management LLC increased its position in shares of NuScale Power by 37.4% during the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock worth $533,000 after acquiring an additional 10,244 shares during the last quarter. Hedge funds and other institutional investors own 78.37% 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.