NuScale Power (NYSE:SMR) Shares Down 6.4% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) was down 6.4% during mid-day trading on Wednesday . The company traded as low as $9.97 and last traded at $10.1620. Approximately 32,688,768 shares traded hands during trading, an increase of 6% from the average session volume of 30,817,742 shares. The stock had previously closed at $10.86.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America assumed coverage on shares of NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price for the company. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research report on Friday, May 8th. Northland Securities set a $19.00 target price on NuScale Power in a research note on Monday, May 11th. Citigroup reduced 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, Cantor Fitzgerald decreased their price target on NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.92.

NuScale Power Trading Down 6.4%

The company’s 50 day moving average price is $11.59 and its 200-day moving average price is $13.98. The company has a market capitalization of $3.71 billion, a PE ratio of -3.48 and a beta of 2.20.

NuScale Power (NYSE:SMR) last issued its 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). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The firm had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $7.00 million. The firm’s quarterly revenue was down 95.8% on a year-over-year basis. As a group, analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Transactions at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in NuScale Power by 623.4% during the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after buying an additional 394,065 shares during the period. AQR Capital Management LLC grew its stake in shares of 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 acquiring an additional 10,244 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of NuScale Power during the first quarter valued at about $390,000. Jones Financial Companies Lllp increased its position in shares of NuScale Power by 9.1% during the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock worth $238,000 after acquiring an additional 1,394 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after acquiring an additional 1,705,411 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.