NuScale Power (NYSE:SMR) Shares Down 6.9% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) shares fell 6.9% on Tuesday . The stock traded as low as $9.86 and last traded at $9.9050. 31,232,206 shares traded hands during trading, an increase of 3% from the average session volume of 30,238,541 shares. The stock had previously closed at $10.64.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SMR. Bank of America began coverage on NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. Canaccord Genuity Group cut their price target 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. UBS Group cut their price target 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. Zacks Research raised NuScale Power from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada dropped their target price on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Trading Down 6.9%

The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -3.39 and a beta of 2.20. The stock has a 50-day moving average price of $11.43 and a 200 day moving average price of $14.33.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.57 million for the quarter, compared to analyst estimates of $7.00 million. The business’s revenue was down 95.8% on a year-over-year basis. Equities research analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in NuScale Power by 35.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company’s stock worth $11,659,000 after purchasing an additional 213,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after purchasing an additional 1,346,796 shares in the last quarter. Caz Investments LP lifted its stake in NuScale Power by 10,000.0% in the 4th quarter. Caz Investments LP now owns 101,000 shares of the company’s stock worth $1,431,000 after purchasing an additional 100,000 shares in the last quarter. Clear Street Group Inc. purchased a new position in NuScale Power in the 3rd quarter worth approximately $155,616,000. Finally, Seven Grand Managers LLC purchased a new position in NuScale Power in the 4th quarter worth approximately $1,771,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.