NuScale Power (NYSE:SMR) Reaches New 1-Year Low – Time to Sell?

NuScale Power Corporation (NYSE:SMR) reached a new 52-week low during trading on Tuesday . The company traded as low as $8.73 and last traded at $8.7550, with a volume of 10143553 shares. The stock had previously closed at $9.61.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SMR. Bank of America started coverage on NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target for the company. HSBC assumed coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. UBS Group dropped their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Finally, Northland Securities set a $19.00 price target on shares of NuScale Power in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.92.

NuScale Power Stock Down 6.7%

The stock has a market cap of $3.28 billion, a PE ratio of -3.07 and a beta of 2.24. The stock has a 50-day moving average of $11.26 and a 200 day moving average of $13.34.

NuScale Power (NYSE:SMR) last released 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 $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. The firm’s revenue was down 95.8% on a year-over-year basis. Research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the sale, the director directly owned 26,436,472 shares in the company, valued at $319,088,217.04. This trade represents a 33.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 39,936,472 shares of company stock valued at $472,831,169. Company insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nemes Rush Group LLC purchased a new stake in NuScale Power during the third quarter worth about $25,000. Strategic Advocates LLC purchased a new stake in NuScale Power in the third quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC boosted its holdings in NuScale Power by 1,550.9% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after acquiring an additional 1,675 shares during the last quarter. Assetmark Inc. raised its holdings in NuScale Power by 1,940.3% in the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after buying an additional 2,309 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in NuScale Power during the 4th quarter worth $30,000. Institutional investors and hedge funds 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.