NuScale Power (NYSE:SMR) Shares Down 9% – Time to Sell?

Shares of NuScale Power Corporation (NYSE:SMR) were down 9% during mid-day trading on Monday . The company traded as low as $40.39 and last traded at $40.82. Approximately 14,992,705 shares traded hands during trading, an increase of 8% from the average daily volume of 13,848,530 shares. The stock had previously closed at $44.87.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SMR shares. BNP Paribas downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada started coverage on NuScale Power in a research note on Monday, September 15th. They set a “sector perform” rating and a $35.00 target price for the company. Cantor Fitzgerald started coverage on NuScale Power in a research note on Tuesday, October 21st. They set an “overweight” rating and a $55.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of NuScale Power in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group increased their target price on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NuScale Power presently has a consensus rating of “Reduce” and a consensus price target of $37.73.

NuScale Power Price Performance

The firm has a 50-day simple moving average of $39.26 and a two-hundred day simple moving average of $35.50. The company has a market cap of $11.63 billion, a PE ratio of -34.30 and a beta of 2.03.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $8.05 million for the quarter, compared to analysts’ expectations of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. Equities research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Activity

In other news, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 15,048,847 shares of company stock worth $606,761,579 in the last 90 days. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently made changes to their positions in the business. CX Institutional acquired a new stake in shares of NuScale Power during the third quarter worth $25,000. Quantbot Technologies LP acquired a new stake in shares of NuScale Power during the first quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after purchasing an additional 359 shares during the last quarter. Indiana Trust & Investment Management Co acquired a new stake in shares of NuScale Power during the third quarter worth $34,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in NuScale Power in the third quarter valued at $41,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Company Profile

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.