NuScale Power (NYSE:SMR) Trading Down 13.5% – Time to Sell?

NuScale Power Corporation (NYSE:SMR) shares were down 13.5% during trading on Friday . The stock traded as low as $18.33 and last traded at $18.3650. Approximately 28,304,006 shares changed hands during mid-day trading, an increase of 88% from the average daily volume of 15,077,994 shares. The stock had previously closed at $21.22.

Analyst Ratings Changes

SMR has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price target on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Cantor Fitzgerald began coverage on shares of NuScale Power in a research note on Tuesday, October 21st. They set an “overweight” rating and a $55.00 price target on the stock. Citigroup reaffirmed a “sell” rating and issued a $37.50 target price (down from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. The Goldman Sachs Group dropped their price target on NuScale Power from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, NuScale Power presently has an average rating of “Reduce” and a consensus target price of $36.04.

NuScale Power Price Performance

The company has a 50-day moving average price of $31.30 and a two-hundred day moving average price of $36.19. The company has a market cap of $5.48 billion, a PE ratio of -6.42 and a beta of 2.09.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The business had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm’s revenue was up 1635.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) earnings per share. On average, equities research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares of the company’s stock, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 15,040,000 shares of company stock worth $605,749,702. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in SMR. LPL Financial LLC lifted its stake in NuScale Power by 35.8% during the first quarter. LPL Financial LLC now owns 273,394 shares of the company’s stock valued at $3,871,000 after purchasing an additional 72,098 shares during the last quarter. US Bancorp DE grew its stake in NuScale Power by 33.0% during the 1st quarter. US Bancorp DE now owns 10,969 shares of the company’s stock valued at $155,000 after acquiring an additional 2,722 shares in the last quarter. Vanguard Group Inc. grew its position in NuScale Power by 6.1% during the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock valued at $126,598,000 after purchasing an additional 512,618 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of NuScale Power by 15.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 847,869 shares of the company’s stock worth $12,006,000 after acquiring an additional 112,486 shares during the last quarter. Finally, Deutsche Bank AG increased its position in NuScale Power by 0.9% in the 1st quarter. Deutsche Bank AG now owns 76,082 shares of the company’s stock worth $1,077,000 after purchasing an additional 686 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.