NuScale Power (NYSE:SMR) Shares Down 6.6% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) shares traded down 6.6% on Monday . The company traded as low as $10.18 and last traded at $10.4850. 31,657,761 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 29,110,998 shares. The stock had previously closed at $11.23.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SMR. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. B. Riley Financial decreased their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, April 24th. Texas Capital upgraded NuScale Power to a “strong-buy” rating in a report on Tuesday, January 27th. Cantor Fitzgerald cut their target price on NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Finally, HSBC started coverage on NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.08.

NuScale Power Price Performance

The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -3.59 and a beta of 2.24. The stock has a 50-day moving average price of $11.54 and a 200 day moving average price of $17.00.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.57 million for the quarter, compared to analysts’ expectations 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 business’s revenue was down 95.8% on a year-over-year basis. As a group, equities research analysts predict 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, insider Clayton Scott sold 22,478 shares of NuScale Power stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $12.22, for a total value of $274,681.16. Following the transaction, the insider directly owned 132,852 shares of the company’s stock, valued at $1,623,451.44. The trade was a 14.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Lawrence Hopkins sold 82,667 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the sale, the chief executive officer owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. This trade represents a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 40,572,082 shares of company stock valued at $481,029,608. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cibc World Market Inc. lifted its position in NuScale Power by 3.8% during the 3rd quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock worth $324,000 after acquiring an additional 329 shares during the period. MAI Capital Management grew its stake in shares of NuScale Power by 37.0% in the 3rd quarter. MAI Capital Management now owns 1,654 shares of the company’s stock valued at $60,000 after purchasing an additional 447 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of NuScale Power by 1.7% in the third quarter. Arizona State Retirement System now owns 35,523 shares of the company’s stock valued at $1,279,000 after purchasing an additional 587 shares during the period. Harbour Investments Inc. increased its holdings in shares of NuScale Power by 32.4% in the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock valued at $34,000 after purchasing an additional 592 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of NuScale Power by 7.6% during the third quarter. Principal Financial Group Inc. now owns 9,706 shares of the company’s stock worth $349,000 after purchasing an additional 688 shares during the last quarter. Hedge funds and other institutional investors 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.