NuScale Power (NYSE:SMR) Trading Down 1.4% – Time to Sell?

NuScale Power Corporation (NYSE:SMR) shares traded down 1.4% during trading on Thursday . The stock traded as low as $9.81 and last traded at $10.0660. 22,295,562 shares traded hands during trading, a decline of 28% from the average daily volume of 30,754,324 shares. The stock had previously closed at $10.21.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SMR shares. UBS Group cut their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Bank of America started coverage on NuScale Power in a research report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Citigroup decreased their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a report on Monday, May 11th. Finally, Northland Securities set a $19.00 price objective on NuScale Power in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, NuScale Power has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Trading Down 1.4%

The business’s 50 day simple moving average is $11.60 and its 200 day simple moving average is $13.89. The firm has a market capitalization of $3.68 billion, a PE ratio of -3.45 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced its 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 for the quarter, compared to analysts’ expectations of $7.00 million. The business’s revenue for the quarter was down 95.8% on a year-over-year basis. Analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 39,936,472 shares of company stock worth $472,831,169 over the last quarter. Insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after buying an additional 4,482,254 shares during the period. Van ECK Associates Corp boosted its stake in NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after buying an additional 6,227,747 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the period. Renaissance Technologies LLC bought a new position in NuScale Power during the first quarter valued at $59,141,000. Finally, Morgan Stanley increased its position in NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after acquiring an additional 2,361,532 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.