NuScale Power (NYSE:SMR) Shares Down 3.5% – Should You Sell?

Shares of NuScale Power Corporation (NYSE:SMR) were down 3.5% during mid-day trading on Monday . The stock traded as low as $8.80 and last traded at $9.0690. 46,072,172 shares were traded during trading, an increase of 51% from the average daily volume of 30,600,709 shares. The stock had previously closed at $9.40.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMR. B. Riley Financial reduced their price objective on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Canaccord Genuity Group dropped their target price on shares of NuScale Power from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Barclays dropped their target price on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Northland Securities set a $16.00 price target on shares of NuScale Power in a report on Thursday, August 6th. Finally, Royal Bank Of Canada lowered their price objective on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.50.

NuScale Power Stock Performance

The firm has a market cap of $3.90 billion, a P/E ratio of -3.11 and a beta of 2.26. The firm has a fifty day moving average of $9.35 and a 200-day moving average of $11.19.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). The business had revenue of $0.07 million during 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 business’s revenue for the quarter was down 99.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.11) EPS. Equities research analysts expect that NuScale Power Corporation will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Carl M. Fisher sold 18,771 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were 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 owned 114,718 shares of the company’s stock, valued at approximately $1,073,760.48. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 on Tuesday, August 18th. The shares were sold at an average price of $8.86, for a total transaction of $177,200.00. Following the transaction, the director directly owned 17,242 shares of the company’s stock, valued at approximately $152,764.12. This trade represents a 53.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its position in NuScale Power by 1,622.5% in the 2nd quarter. California State Teachers Retirement System now owns 3,455,305 shares of the company’s stock worth $344,497,000 after purchasing an additional 3,254,704 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of NuScale Power during the second quarter valued at approximately $27,000. AlphaGrep UK Ltd bought a new stake in shares of NuScale Power during the second quarter valued at approximately $307,000. Concurrent Investment Advisors LLC boosted its position in shares of NuScale Power by 205.9% during the second quarter. Concurrent Investment Advisors LLC now owns 34,909 shares of the company’s stock worth $350,000 after buying an additional 23,497 shares during the period. Finally, Nykredit A S acquired a new position in shares of NuScale Power during the second quarter worth approximately $109,000. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Company Profile

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.