Insider Selling: NuScale Power (NYSE:SMR) CFO Sells $157,800.00 in Stock

NuScale Power Corporation (NYSE:SMR) CFO Robert Hamady sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $7.89, for a total value of $157,800.00. Following the transaction, the chief financial officer owned 144,235 shares in the company, valued at $1,138,014.15. This represents a 12.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robert Ramsey Hamady also recently made the following trade(s):

• On Thursday, August 27th, Robert Hamady sold 29,880 shares of NuScale Power stock. The shares were sold at an average price of $9.39, for a total value of $280,573.20.

NuScale Power Price Performance

NYSE SMR traded down $0.07 on Monday, hitting $7.68. The company had a trading volume of 17,853,813 shares, compared to its average volume of 31,489,016. The company’s fifty day moving average price is $9.05 and its 200-day moving average price is $10.17. The company has a market capitalization of $3.30 billion, a PE ratio of -2.63 and a beta of 2.36. NuScale Power Corporation has a 12-month low of $7.21 and a 12-month high of $57.42.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. During the same period last year, the firm posted ($0.11) earnings per share. The company’s revenue was down 99.1% compared to the same quarter last year. On average, sell-side analysts anticipate that NuScale Power Corporation will post -0.64 EPS for the current year.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Advocates LLC boosted its stake in NuScale Power by 233.0% during the fourth quarter. Strategic Advocates LLC now owns 2,321 shares of the company’s stock worth $33,000 after buying an additional 1,624 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of NuScale Power by 32.4% during the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after acquiring an additional 592 shares during the period. Assetmark Inc. raised its holdings in shares of NuScale Power by 1,940.3% during the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after acquiring an additional 2,309 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of NuScale Power during the 2nd quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of NuScale Power in the fourth quarter valued at about $110,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SMR. Truist Financial initiated coverage on NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 price objective on the stock. Northland Securities set a $16.00 price target on NuScale Power in a research report on Thursday, August 6th. Barclays reduced their price objective on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Royal Bank Of Canada lowered their target price on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Finally, UBS Group lowered shares of NuScale Power from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $10.00 to $6.00 in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $12.96.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and process heat. Its primary product is the VOYGR SMR power plant, which is based on the company’s proprietary pressurized light-water reactor design. The plants are intended to be built from factory-produced modules and can be configured for applications including utility-scale power generation, industrial heat, hydrogen production, and water desalination.

NuScale provides reactor technology, engineering and design support, licensing assistance, and services intended to help customers develop and deploy SMR facilities.