NuScale Power (NYSE:SMR) Shares Down 4.3% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) shares dropped 4.3% on Monday . The stock traded as low as $11.04 and last traded at $11.23. 33,404,657 shares traded hands during trading, an increase of 8% from the average daily volume of 30,790,002 shares. The stock had previously closed at $11.74.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SMR shares. Canaccord Genuity Group dropped their target price on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Northland Securities set a $19.00 price objective on shares of NuScale Power in a research note on Monday, May 11th. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a research note on Friday, May 8th. B. Riley Financial lowered their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, April 24th. Finally, Bank of America assumed coverage on NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price objective for the company. 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 issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.92.

NuScale Power Price Performance

The firm’s fifty day moving average price is $11.59 and its 200-day moving average price is $13.98. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -3.48 and a beta of 2.20.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The business had revenue of $0.56 million for the quarter, compared to analyst estimates of $7.00 million. The company’s revenue was down 95.8% on a year-over-year basis. On average, research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at approximately $319,088,217.04. The trade was a 33.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NuScale Power by 35.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company’s stock valued at $11,659,000 after purchasing an additional 213,329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 valued at $263,195,000 after buying an additional 1,346,796 shares during the period. Caz Investments LP lifted its holdings in NuScale Power by 10,000.0% in the fourth quarter. Caz Investments LP now owns 101,000 shares of the company’s stock valued at $1,431,000 after buying an additional 100,000 shares during the period. Clear Street Group Inc. bought a new stake in NuScale Power during the third quarter valued at $155,616,000. Finally, Seven Grand Managers LLC acquired a new stake in NuScale Power during the 4th quarter worth about $1,771,000. 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.