NuScale Power (NYSE:SMR) Shares Down 6.1% – Should You Sell?

NuScale Power Corporation (NYSE:SMR)’s share price dropped 6.1% during trading on Monday . The stock traded as low as $9.18 and last traded at $9.22. Approximately 21,551,458 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 30,437,109 shares. The stock had previously closed at $9.82.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of research analyst reports. Bank of America assumed coverage on NuScale Power in a report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. Barclays decreased their price objective on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Northland Securities set a $16.00 target price on NuScale Power in a research note on Thursday. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a report on Friday, May 8th. Finally, Citigroup reduced their price target on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a research report on Thursday. One 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. Based on data from MarketBeat, NuScale Power has a consensus rating of “Hold” and a consensus price target of $14.12.

NuScale Power Stock Down 6.1%

The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -3.16 and a beta of 2.26. The stock’s 50 day moving average price is $9.70 and its two-hundred day moving average price is $11.87.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $8.80 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The business’s revenue for the quarter was down 99.1% on a year-over-year basis. On average, equities analysts expect that NuScale Power Corporation will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, COO Carl M. Fisher sold 18,771 shares of NuScale Power stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the completion of the sale, the chief operating officer directly owned 114,718 shares in the company, valued at $1,073,760.48. The trade was a 14.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC raised its position in NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after acquiring an additional 1,675 shares in the last quarter. Assetmark Inc. grew its position in NuScale Power by 1,940.3% in the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after acquiring an additional 2,309 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of NuScale Power during the 4th quarter worth $30,000. Strategic Advocates LLC increased its stake in shares of NuScale Power by 233.0% during the 4th quarter. Strategic Advocates LLC now owns 2,321 shares of the company’s stock worth $33,000 after purchasing an additional 1,624 shares during the last quarter. Finally, 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 valued at $34,000 after purchasing an additional 592 shares in the last quarter. 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.