NuScale Power (NYSE:SMR) Trading Down 11.7% – Should You Sell?

NuScale Power Corporation (NYSE:SMR)’s stock price was down 11.7% during mid-day trading on Thursday . The stock traded as low as $18.58 and last traded at $18.6560. Approximately 31,017,617 shares changed hands during mid-day trading, an increase of 114% from the average daily volume of 14,512,300 shares. The stock had previously closed at $21.13.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of recent research reports. Citigroup restated a “sell” rating and set a $37.50 price target (down from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. Canaccord Genuity Group boosted their target price 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. Wall Street Zen cut shares of NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Barclays started coverage on shares of NuScale Power in a research note on Monday, September 29th. They set an “equal weight” rating and a $45.00 price target on the stock. Finally, UBS Group upped their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $37.50.

NuScale Power Stock Performance

The company has a market capitalization of $5.57 billion, a PE ratio of -6.52 and a beta of 2.03. The company’s fifty day moving average is $37.31 and its 200-day moving average is $36.48.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) 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 analysts’ expectations of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business’s revenue for the quarter was up 1635.2% on a year-over-year basis. During the same period last year, the company earned ($0.18) earnings per share. On average, sell-side analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 15,030,641 shares of company stock valued at $605,953,415 in the last quarter. 1.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SMR. Vanguard Group Inc. grew its holdings in NuScale Power by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock valued at $126,598,000 after buying an additional 512,618 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of NuScale Power by 67.2% during the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock worth $190,362,000 after acquiring an additional 2,125,250 shares during the last quarter. Samsung C&T Corp grew its stake in NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after acquiring an additional 2,578,702 shares in the last quarter. Finally, Clear Street Group Inc. bought a new stake in NuScale Power in the 3rd quarter valued at $155,616,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.