NuScale Power (NYSE:SMR) Trading Down 6.4% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) shares fell 6.4% during trading on Wednesday . The company traded as low as $9.97 and last traded at $10.1620. Approximately 32,688,768 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 30,817,742 shares. The stock had previously closed at $10.86.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMR. Citigroup lowered their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th. UBS Group reduced their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Canaccord Genuity Group decreased their price target on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 27th. B. Riley Financial dropped their price target on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, Northland Securities set a $19.00 price target on shares of NuScale Power in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.92.

NuScale Power Stock Down 6.4%

The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -3.48 and a beta of 2.20. The stock has a 50 day moving average of $11.59 and a 200 day moving average of $13.98.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm had revenue of $0.56 million for the quarter, compared to analyst estimates of $7.00 million. The business’s quarterly revenue was down 95.8% compared to the same quarter last year. Analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 39,936,472 shares of company stock valued at $472,831,169. 1.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in SMR. Van ECK Associates Corp raised its holdings in shares of NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after purchasing an additional 6,227,747 shares during the period. Renaissance Technologies LLC bought a new stake in shares of NuScale Power during the 1st quarter valued at about $59,141,000. Vanguard Group Inc. grew its position in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after buying an additional 4,482,254 shares during the last quarter. Clear Street Group Inc. acquired a new stake in NuScale Power during the third quarter worth about $155,616,000. Finally, Voloridge Investment Management LLC acquired a new stake in NuScale Power during the fourth quarter worth about $48,993,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

About NuScale Power

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.