NuScale Power (NYSE:SMR) Stock Price Down 5.1% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) was down 5.1% during mid-day trading on Monday . The stock traded as low as $17.37 and last traded at $17.4050. 21,076,053 shares were traded during trading, an increase of 39% from the average daily volume of 15,117,731 shares. The stock had previously closed at $18.34.

Analyst Ratings Changes

SMR has been the subject of several recent analyst reports. Zacks Research cut NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Canaccord Genuity Group boosted their price objective on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. BNP Paribas cut NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group set a $20.00 target price on NuScale Power in a report on Tuesday, November 25th. Finally, Barclays assumed coverage on shares of NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target for the company. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $36.04.

NuScale Power Stock Down 8.2%

The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -5.49 and a beta of 2.09. The business has a 50-day moving average price of $29.93 and a 200-day moving average price of $35.90.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The company had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. During the same period in the prior year, the business posted ($0.18) EPS. The company’s revenue for the quarter was up 1635.2% compared to the same quarter last year. As a group, sell-side analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In other news, Director Corp Fluor sold 87,900 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Ramsey Hamady sold 40,000 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. This trade represents a 46.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,691,411 shares of company stock worth $556,228,353 in the last 90 days. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently bought and sold shares of the business. CX Institutional acquired a new position in shares of NuScale Power in the 3rd quarter valued at about $25,000. Nemes Rush Group LLC acquired a new position in NuScale Power in the 3rd quarter valued at approximately $25,000. Strategic Advocates LLC purchased a new stake in NuScale Power in the 3rd quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of NuScale Power during the 1st quarter valued at $27,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after acquiring an additional 359 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

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.