NuScale Power (NYSE:SMR) Shares Down 6.7% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) fell 6.7% during mid-day trading on Tuesday . The company traded as low as $8.64 and last traded at $8.9650. 29,774,409 shares changed hands during trading, a decline of 3% from the average daily volume of 30,568,563 shares. The stock had previously closed at $9.61.

Analysts Set New Price Targets

SMR has been the topic of a number of research reports. Northland Securities set a $19.00 price target on shares of NuScale Power in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. HSBC initiated coverage on NuScale Power in a report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective for the company. Citigroup dropped their target price on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. Finally, The Goldman Sachs Group set a $9.00 target price on NuScale Power in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Price Performance

The firm has a 50-day moving average of $11.26 and a 200 day moving average of $13.34. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -3.07 and a beta of 2.24.

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

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $12.07, for a total value of $162,945,000.00. Following the sale, the director directly owned 26,436,472 shares of the company’s stock, valued at approximately $319,088,217.04. This represents a 33.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of NuScale Power by 623.4% in the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock valued at $6,475,000 after buying an additional 394,065 shares in the last quarter. AQR Capital Management LLC raised its position in NuScale Power by 37.4% during the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after purchasing an additional 10,244 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in NuScale Power during the first quarter worth $390,000. Jones Financial Companies Lllp boosted its holdings in shares of NuScale Power by 9.1% in the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after purchasing an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

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.