NuScale Power (NYSE:SMR) Shares Down 6.4% – Time to Sell?

NuScale Power Corporation (NYSE:SMR)’s stock price dropped 6.4% during mid-day trading on Monday . The stock traded as low as $20.56 and last traded at $21.01. Approximately 24,526,779 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 14,353,252 shares. The stock had previously closed at $22.45.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BNP Paribas Exane downgraded NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 21st. UBS Group lifted their price objective on shares of NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Barclays started coverage on shares of NuScale Power in a research report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of NuScale Power in a report on Tuesday, October 21st. They set an “overweight” rating and a $55.00 target price for the company. Finally, BNP Paribas lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. According to 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 firm’s fifty day simple moving average is $38.11 and its 200 day simple moving average is $36.53. The stock has a market capitalization of $6.27 billion, a P/E ratio of -7.35 and a beta of 2.03.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue was up 1635.2% on a year-over-year basis. Analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction 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 approximately $443,654,282.56. The trade was a 19.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 15,030,641 shares of company stock valued at $605,953,415. Company insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in shares of NuScale Power by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 258,626 shares of the company’s stock valued at $3,662,000 after purchasing an additional 12,879 shares in the last quarter. Arizona State Retirement System boosted its position in NuScale Power by 19.8% in the first quarter. Arizona State Retirement System now owns 29,638 shares of the company’s stock valued at $420,000 after buying an additional 4,899 shares in the last quarter. CWM LLC grew its stake in shares of NuScale Power by 366.2% during the first quarter. CWM LLC now owns 44,512 shares of the company’s stock worth $630,000 after buying an additional 34,965 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of NuScale Power by 25.6% during the first quarter. Victory Capital Management Inc. now owns 13,395 shares of the company’s stock worth $190,000 after buying an additional 2,726 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of NuScale Power by 139.8% during the first quarter. Kestra Private Wealth Services LLC now owns 37,773 shares of the company’s stock worth $535,000 after buying an additional 22,023 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Company Profile

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.