NuScale Power (NYSE:SMR) Stock Price Down 1.9% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) shares were down 1.9% on Wednesday . The stock traded as low as $8.55 and last traded at $8.7870. 17,877,136 shares were traded during trading, a decline of 41% from the average session volume of 30,492,867 shares. The stock had previously closed at $8.96.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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 objective on the stock. The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a research note on Friday, May 8th. Northland Securities set a $19.00 price target on NuScale Power in a report on Monday, May 11th. UBS Group dropped their price target on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, HSBC initiated coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, NuScale Power presently has a consensus rating of “Hold” and a consensus target price of $15.92.

NuScale Power Trading Down 1.9%

The firm has a 50 day moving average price of $11.20 and a 200 day moving average price of $13.29. The stock has a market capitalization of $3.21 billion, a PE ratio of -3.01 and a beta of 2.24.

NuScale Power (NYSE:SMR) last released 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 net margin of 2,066.55% and a negative return on equity of 48.88%. The company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. The company’s revenue was down 95.8% compared to the same quarter last year. On average, equities research analysts expect that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at $319,088,217.04. The trade was a 33.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last 90 days. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in NuScale Power by 32.4% during 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 in the last quarter. Strategic Advocates LLC purchased a new stake in shares of NuScale Power in the third quarter worth $25,000. Nemes Rush Group LLC bought a new stake in shares of NuScale Power during the 3rd quarter valued at $25,000. Balboa Wealth Partners raised its position in shares of NuScale Power by 5.9% during the 4th quarter. Balboa Wealth Partners now owns 13,465 shares of the company’s stock valued at $191,000 after purchasing an additional 756 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of NuScale Power by 7.8% during the 3rd quarter. Allworth Financial LP now owns 10,492 shares of the company’s stock valued at $378,000 after buying an additional 758 shares in the last quarter. 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.