NuScale Power (NYSE:SMR) Stock Falls 6.7% – Should You Sell?

Shares of NuScale Power Corporation (NYSE:SMR) were down 6.7% during mid-day trading on Wednesday. The company traded as low as $7.49 and last traded at $7.4850. 7,739,631 shares were traded during trading, a decline of 75% from the average session volume of 31,422,117 shares. The stock had previously closed at $8.02.

Analyst Upgrades and Downgrades

SMR has been the subject of several research analyst reports. UBS Group downgraded NuScale Power from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $10.00 to $6.00 in a research note on Friday, September 11th. Truist Financial initiated coverage on shares of NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 price target for the company. B. Riley Financial decreased their price objective on shares of NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Royal Bank Of Canada cut their target price on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 11th. Finally, Northland Securities set a $16.00 price target on shares of NuScale Power in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.96.

NuScale Power Trading Down 4.5%

The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -2.51 and a beta of 2.36. The firm’s fifty day simple moving average is $9.00 and its two-hundred day simple moving average is $10.05.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The company’s quarterly revenue was down 99.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) EPS. As a group, analysts forecast that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, COO Carl M. Fisher sold 18,771 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the completion of the transaction, the chief operating officer directly owned 114,718 shares of the company’s stock, valued at approximately $1,073,760.48. This represents a 14.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shinji Fujino sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total transaction of $177,200.00. Following the sale, the director owned 17,242 shares of the company’s stock, valued at $152,764.12. This represents a 53.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 88,651 shares of company stock valued at $791,270 in the last quarter. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of NuScale Power by 157.5% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after acquiring an additional 1,970 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of NuScale Power during the 2nd quarter valued at approximately $126,000. WINTON GROUP Ltd acquired a new position in NuScale Power during the second quarter worth $392,000. Integrated Wealth Concepts LLC boosted its position in shares of NuScale Power by 153.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 65,623 shares of the company’s stock worth $658,000 after buying an additional 39,751 shares in the last quarter. Finally, RFG Advisory LLC raised its position in NuScale Power by 33.1% during the second quarter. RFG Advisory LLC now owns 60,622 shares of the company’s stock worth $608,000 after acquiring an additional 15,092 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and process heat. Its primary product is the VOYGR SMR power plant, which is based on the company’s proprietary pressurized light-water reactor design. The plants are intended to be built from factory-produced modules and can be configured for applications including utility-scale power generation, industrial heat, hydrogen production, and water desalination.

NuScale provides reactor technology, engineering and design support, licensing assistance, and services intended to help customers develop and deploy SMR facilities.