NuScale Power (NYSE:SMR) Trading Down 6.1% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) fell 6.1% during trading on Tuesday . The company traded as low as $8.58 and last traded at $8.6250. 30,242,671 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 30,395,209 shares. The stock had previously closed at $9.19.

Analysts Set New Price Targets

SMR has been the topic of a number of recent research reports. The Goldman Sachs Group set a $9.00 price target on shares of NuScale Power in a research report on Friday, May 8th. Northland Securities set a $16.00 price objective on shares of NuScale Power in a report on Thursday, August 6th. Barclays decreased 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 research note on Wednesday, July 22nd. Citigroup lowered their target price on NuScale Power from $7.50 to $6.50 and set a “sell” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

NuScale Power Trading Down 4.9%

The firm has a fifty day moving average price of $9.37 and a 200 day moving average price of $11.30. The firm has a market cap of $3.80 billion, a PE ratio of -3.04 and a beta of 2.26.

NuScale Power (NYSE:SMR) last announced 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). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $8.80 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. NuScale Power’s quarterly revenue was down 99.1% on a year-over-year basis. As a group, equities analysts predict 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 stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the completion of the sale, the chief operating officer owned 114,718 shares of the company’s stock, valued at $1,073,760.48. This represents a 14.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.28% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently made changes to their positions in SMR. Wedbush Securities Inc. lifted its holdings in NuScale Power by 50.2% in the second quarter. Wedbush Securities Inc. now owns 16,535 shares of the company’s stock valued at $166,000 after acquiring an additional 5,530 shares during the last quarter. Ancora Advisors LLC acquired a new stake in NuScale Power during the second quarter worth $92,000. Heck Capital Advisors LLC increased its stake in NuScale Power by 33.5% during the second quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock worth $164,000 after acquiring an additional 4,115 shares during the last quarter. Handelsbanken Fonder AB raised its position in NuScale Power by 209.5% in the second quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock valued at $1,083,000 after purchasing an additional 73,100 shares during the period. Finally, Adamsbrown Wealth Consultants LLC purchased a new stake in NuScale Power in the second quarter valued at $100,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.