NuScale Power (NYSE:SMR) Shares Down 6.2% – Should You Sell?

NuScale Power Corporation (NYSE:SMR) shares were down 6.2% on Tuesday . The company traded as low as $18.20 and last traded at $18.6990. Approximately 21,343,484 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 14,626,645 shares. The stock had previously closed at $19.94.

Analysts Set New Price Targets

SMR has been the subject of a number of analyst reports. Royal Bank Of Canada dropped their price target on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Bank of America restated an “underperform” rating and issued a $34.00 target price (down from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. BNP Paribas lowered NuScale Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Canaccord Genuity Group boosted their price target on shares of NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Finally, BNP Paribas Exane cut shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $36.12.

NuScale Power Stock Performance

The company has a 50 day moving average price of $35.53 and a 200 day moving average price of $36.54. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of -6.65 and a beta of 2.03.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data 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). The company had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm’s quarterly revenue was up 1635.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the sale, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 15,000,000 shares of company stock worth $604,862,902. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in NuScale Power by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock worth $126,598,000 after acquiring an additional 512,618 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after acquiring an additional 1,346,796 shares in the last quarter. Van ECK Associates Corp increased its stake in NuScale Power by 67.2% during the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock worth $190,362,000 after purchasing an additional 2,125,250 shares during the period. Samsung C&T Corp lifted its position in shares of NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after purchasing an additional 2,578,702 shares in the last quarter. Finally, Clear Street Group Inc. purchased a new position in shares of NuScale Power in the third quarter valued at approximately $155,616,000. 78.37% of the stock is owned by institutional investors and hedge funds.

About NuScale Power

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.