NuScale Power (NYSE:SMR) Shares Down 4% – Time to Sell?

NuScale Power Co. (NYSE:SMR)’s stock price was down 4% during mid-day trading on Thursday . The company traded as low as $17.58 and last traded at $18.31. Approximately 9,649,738 shares were traded during mid-day trading, an increase of 83% from the average daily volume of 5,262,387 shares. The stock had previously closed at $19.07.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SMR. Craig Hallum boosted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. CLSA initiated coverage on NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, B. Riley upped their price target on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, NuScale Power has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The stock’s fifty day moving average is $10.55 and its two-hundred day moving average is $9.23. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -21.42 and a beta of 1.25.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. During the same period last year, the firm posted ($0.13) EPS.

Insider Activity

In related news, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 490,595 shares of company stock valued at $6,287,356. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently bought and sold shares of SMR. Quadrature Capital Ltd bought a new stake in NuScale Power during the fourth quarter worth approximately $417,000. Rheos Capital Works Inc. bought a new stake in shares of NuScale Power during the 1st quarter worth $1,328,000. Evanson Asset Management LLC grew its holdings in shares of NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after acquiring an additional 7,986 shares during the last quarter. SG Americas Securities LLC raised its position in shares of NuScale Power by 268.3% during the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after purchasing an additional 39,171 shares during the period. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of NuScale Power during the first quarter valued at $58,000. 15.28% of the stock is owned by institutional investors and hedge funds.

About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.