NuScale Power (NYSE:SMR) Stock Price Down 6.3% Following Insider Selling

NuScale Power Corporation (NYSE:SMRGet Free Report) shares traded down 6.3% on Thursday after an insider sold shares in the company. The company traded as low as $12.21 and last traded at $12.71. 66,847,105 shares were traded during trading, an increase of 134% from the average session volume of 28,571,646 shares. The stock had previously closed at $13.57.

Specifically, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Corp Fluor sold 12,936,472 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $11.63, for a total value of $150,451,169.36. Following the completion of the sale, the director owned 13,500,000 shares in the company, valued at $157,005,000. This trade represents a 48.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. Canaccord Genuity Group lowered their price objective on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. The Goldman Sachs Group lowered their price objective on NuScale Power from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 2nd. HSBC assumed coverage on NuScale Power in a research report on Thursday. They issued a “hold” rating and a $13.00 price objective on the stock. Finally, UBS Group lowered their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.15.

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Key Stories Impacting NuScale Power

Here are the key news stories impacting NuScale Power this week:

NuScale Power Stock Down 6.3%

The firm’s 50-day moving average is $11.91 and its 200-day moving average is $20.25. The company has a market capitalization of $4.30 billion, a PE ratio of -4.40 and a beta of 2.27.

NuScale Power (NYSE:SMRGet Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.70). NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%.The company had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $8.76 million. As a group, equities research analysts predict that NuScale Power Corporation will post -0.48 EPS for the current year.

Institutional Trading of NuScale Power

Several hedge funds have recently added to or reduced their stakes in SMR. CX Institutional bought a new stake in NuScale Power in the third quarter worth $25,000. Nemes Rush Group LLC bought a new stake in NuScale Power in the third quarter worth $25,000. Strategic Advocates LLC bought a new stake in NuScale Power in the third quarter worth $25,000. Vermillion & White Wealth Management Group LLC lifted its stake in NuScale Power by 1,550.9% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after purchasing an additional 1,675 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in NuScale Power in the fourth quarter worth $30,000. 78.37% of the stock is owned by institutional investors.

About NuScale Power

(Get Free Report)

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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