NuScale Power (NYSE:SMR) Trading Down 12.7% – Should You Sell?

NuScale Power Corporation (NYSE:SMR)’s share price fell 12.7% on Friday . The stock traded as low as $10.15 and last traded at $10.4740. 49,074,111 shares traded hands during mid-day trading, an increase of 63% from the average session volume of 30,142,260 shares. The stock had previously closed at $12.00.

Analysts Set New Price Targets

SMR has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. Cantor Fitzgerald cut their target price on NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a report on Friday, May 8th. Zacks Research raised NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Northland Securities set a $19.00 price objective on shares of NuScale Power in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Price Performance

The firm’s 50-day simple moving average is $11.51 and its 200 day simple moving average is $14.81. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -3.59 and a beta of 2.20.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (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 business had revenue of $0.57 million during the quarter, compared to the consensus estimate of $7.00 million. The company’s revenue for the quarter was down 95.8% on a year-over-year basis. As a group, research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $12.07, for a total value of $162,945,000.00. Following the sale, the director directly owned 26,436,472 shares in the company, valued at approximately $319,088,217.04. This trade represents a 33.80% decrease in their position. The transaction 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 over the last three months. 1.28% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of NuScale Power by 40.5% during the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after buying an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp grew its position in NuScale Power by 117.8% during the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after acquiring an additional 6,227,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NuScale Power by 22.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after acquiring an additional 1,346,796 shares during the last quarter. Renaissance Technologies LLC acquired a new position in NuScale Power in the 1st quarter worth about $59,141,000. Finally, Morgan Stanley raised its position in 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 last quarter. 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.