NuScale Power (NYSE:SMR) Stock Price Down 11.7% – Time to Sell?

NuScale Power Corporation (NYSE:SMR)’s stock price dropped 11.7% on Wednesday . The company traded as low as $11.99 and last traded at $12.3110. Approximately 52,179,609 shares changed hands during mid-day trading, an increase of 74% from the average daily volume of 29,957,074 shares. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SMR. The Goldman Sachs Group set a $9.00 price target on shares of NuScale Power in a research report on Friday, May 8th. B. Riley Financial reduced their price target on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. Cantor Fitzgerald reduced their price target on shares of 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, Bank of America began coverage on shares of NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Stock Down 2.2%

The firm’s 50 day simple moving average is $11.51 and its 200 day simple moving average is $14.81. The company has a market cap of $4.39 billion, a price-to-earnings ratio of -4.11 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $0.57 million during the quarter, compared to analyst estimates of $7.00 million. The business’s quarterly revenue was down 95.8% compared to the same quarter last year. Analysts anticipate that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 39,936,472 shares of company stock valued at $472,831,169 in the last quarter. 1.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after purchasing an additional 4,482,254 shares during the period. Van ECK Associates Corp increased its stake in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after purchasing an additional 6,227,747 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after purchasing an additional 1,346,796 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of NuScale Power in the first quarter valued at approximately $59,141,000. Finally, Morgan Stanley increased its stake in shares of NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after purchasing an additional 2,361,532 shares during the period. Institutional investors and hedge funds 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.