NuScale Power (NYSE:SMR) Stock Price Down 7.8% – Should You Sell?

Shares of NuScale Power Corporation (NYSE:SMR) fell 7.8% during mid-day trading on Wednesday . The stock traded as low as $7.54 and last traded at $7.58. 31,130,284 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 30,427,023 shares. The stock had previously closed at $8.22.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SMR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Northland Securities set a $19.00 target price on NuScale Power in a research note on Monday, May 11th. The Goldman Sachs Group set a $9.00 price target on NuScale Power in a report on Friday, May 8th. Barclays dropped their price target on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Bank of America started coverage on NuScale Power in a report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, NuScale Power presently has an average rating of “Hold” and an average target price of $15.15.

NuScale Power Stock Down 7.8%

The company’s fifty day moving average is $10.13 and its 200 day moving average is $12.47. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -2.60 and a beta of 2.24.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) 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 business had revenue of $0.56 million during the quarter, compared to analyst estimates of $7.00 million. The company’s quarterly revenue was down 95.8% on a year-over-year basis. On average, equities research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in NuScale Power by 623.4% during the first quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after acquiring an additional 394,065 shares in the last quarter. AQR Capital Management LLC boosted its position in NuScale Power by 37.4% during the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after purchasing an additional 10,244 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in NuScale Power in the first quarter valued at approximately $390,000. Jones Financial Companies Lllp grew its stake in NuScale Power by 9.1% in the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after purchasing an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after purchasing an additional 1,705,411 shares during 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.