NuScale Power (NYSE:SMR) Trading Down 3.9% – Time to Sell?

Shares of NuScale Power Corporation (NYSE:SMRGet Free Report) fell 3.9% during mid-day trading on Friday . The company traded as low as $11.61 and last traded at $11.70. 23,903,921 shares were traded during trading, a decline of 15% from the average session volume of 28,157,559 shares. The stock had previously closed at $12.18.

Key NuScale Power News

Here are the key news stories impacting NuScale Power this week:

Analysts Set New Price Targets

A number of brokerages have recently commented on SMR. Texas Capital upgraded NuScale Power to a “strong-buy” rating in a report on Tuesday, January 27th. Wall Street Zen lowered NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Northland Securities upgraded NuScale Power from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, February 27th. Royal Bank Of Canada dropped their price objective on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Finally, Canaccord Genuity Group cut their price objective on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NuScale Power has a consensus rating of “Hold” and a consensus price target of $21.42.

Get Our Latest Stock Analysis on SMR

NuScale Power Stock Down 3.9%

The business has a 50 day moving average price of $16.44 and a 200 day moving average price of $26.25. The stock has a market cap of $3.49 billion, a P/E ratio of -4.05 and a beta of 2.19.

NuScale Power (NYSE:SMRGet Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.70). The business had revenue of $1.81 million for the quarter, compared to the consensus estimate of $8.76 million. NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%. On average, research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In related news, insider Clayton Scott sold 22,478 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $12.22, for a total value of $274,681.16. Following the transaction, the insider owned 132,852 shares of the company’s stock, valued at $1,623,451.44. This trade represents a 14.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 25,951 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $12.22, for a total transaction of $317,121.22. Following the completion of the transaction, the chief technology officer directly owned 268,081 shares in the company, valued at $3,275,949.82. This represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 675,610 shares of company stock valued at $9,085,239. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC increased its stake in shares of NuScale Power by 72.3% during the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock valued at $3,614,000 after buying an additional 38,347 shares during the period. Allianz Asset Management GmbH purchased a new stake in NuScale Power in the third quarter worth about $14,347,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in NuScale Power by 686.9% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 184,609 shares of the company’s stock worth $6,646,000 after acquiring an additional 161,149 shares during the period. Geode Capital Management LLC grew its holdings in NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after acquiring an additional 574,295 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in NuScale Power by 103.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 609,450 shares of the company’s stock worth $21,940,000 after acquiring an additional 309,810 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

(Get Free Report)

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.

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