NuScale Power (NYSE:SMR) Shares Down 1% - Time to Sell?

Key Points

• NuScale Power's shares declined by 1%, trading down from a previous close of $51.03, with a trading volume that was 68% lower than its average.
• Analysts have recently updated their ratings for NuScale, with seven giving it a "Hold" rating and three a "Buy" rating, setting a consensus target price of $33.00.
• The company's latest quarterly earnings showed a loss of $0.11 per share, which beat analyst expectations, and it reported revenue significantly higher than estimates at $13.38 million.
• Insider trading activity revealed significant sales by executives, with over 95,000 shares sold in recent months, indicating a decrease in officer ownership in the company.

NuScale Power Corporation (NYSE:SMR - Get Free Report) was down 1% on Friday . The stock traded as low as $48.60 and last traded at $50.51. Approximately 3,643,547 shares traded hands during trading, a decline of 68% from the average daily volume of 11,355,858 shares. The stock had previously closed at $51.03.

Analysts Set New Price Targets

SMR has been the topic of several analyst reports. UBS Group boosted their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. Citigroup assumed coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target on the stock. Finally, Northland Securities assumed coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $33.00.

NuScale Power Stock Performance

The stock has a market cap of $14.58 billion, a P/E ratio of -37.41 and a beta of 2.04. The firm's 50 day moving average is $36.87 and its 200 day moving average is $25.02.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. As a group, analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity

In related news, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the sale, the vice president directly owned 1,218 shares of the company's stock, valued at approximately $20,632.92. This represents a 56.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the sale, the insider directly owned 86,965 shares in the company, valued at $1,459,272.70. This trade represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,278 shares of company stock valued at $1,786,990 in the last ninety days. Insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in shares of NuScale Power in the first quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after buying an additional 359 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in shares of NuScale Power in the fourth quarter valued at about $33,000. NBC Securities Inc. raised its position in shares of NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after buying an additional 3,309 shares during the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in shares of NuScale Power in the first quarter valued at about $50,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.

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