NuScale Power (NYSE:SMR) Trading Down 3.1% – Time to Sell?

NuScale Power Corporation (NYSE:SMR)’s share price dropped 3.1% during trading on Wednesday . The stock traded as low as $25.59 and last traded at $25.9040. Approximately 20,701,792 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 14,182,492 shares. The stock had previously closed at $26.74.

Analyst Upgrades and Downgrades

SMR has been the topic of a number of recent research reports. Cantor Fitzgerald began coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. Canaccord Genuity Group increased their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. BNP Paribas Exane lowered shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 21st. Bank of America reiterated an “underperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Finally, Citigroup reiterated a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of “Reduce” and a consensus price target of $37.50.

NuScale Power Trading Down 3.1%

The stock has a market capitalization of $7.38 billion, a PE ratio of -9.06 and a beta of 2.03. The stock has a 50 day moving average price of $38.90 and a 200-day moving average price of $36.38.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The firm had revenue of $8.24 million during the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm’s revenue was up 1635.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.18) EPS. Research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity

In related news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director directly owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 15,030,641 shares of company stock valued at $605,953,415 over the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas raised its holdings in NuScale Power by 20.9% in the 1st quarter. Teacher Retirement System of Texas now owns 45,454 shares of the company’s stock worth $644,000 after purchasing an additional 7,852 shares during the period. Bank of New York Mellon Corp raised its stake in shares of NuScale Power by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 258,626 shares of the company’s stock worth $3,662,000 after buying an additional 12,879 shares during the period. Arizona State Retirement System raised its stake in shares of NuScale Power by 19.8% in the first quarter. Arizona State Retirement System now owns 29,638 shares of the company’s stock worth $420,000 after buying an additional 4,899 shares during the period. CWM LLC lifted its position in shares of NuScale Power by 366.2% during the 1st quarter. CWM LLC now owns 44,512 shares of the company’s stock valued at $630,000 after buying an additional 34,965 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of NuScale Power by 76.8% during the 1st quarter. Bleakley Financial Group LLC now owns 75,311 shares of the company’s stock valued at $1,066,000 after acquiring an additional 32,715 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.