NuScale Power (NYSE:SMR) Trading Down 1.6% - Should You Sell?

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price fell 1.6% during trading on Thursday . The company traded as low as $34.52 and last traded at $34.90. 2,128,759 shares changed hands during trading, a decline of 78% from the average session volume of 9,865,985 shares. The stock had previously closed at $35.46.

Analysts Set New Price Targets

A number of brokerages recently commented on SMR. CLSA set a $41.00 price objective on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Northland Capmk raised NuScale Power to a "hold" rating in a research note on Monday. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Northland Securities assumed coverage on shares of NuScale Power in a research note on Monday. They issued a "market perform" rating and a $35.00 target price for the company. Finally, UBS Group upped their target price on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, NuScale Power currently has a consensus rating of "Hold" and an average target price of $32.00.

NuScale Power Price Performance

The company has a market cap of $10.25 billion, a price-to-earnings ratio of -26.31 and a beta of 2.04. The stock has a 50-day moving average price of $31.56 and a 200 day moving average price of $23.26.

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

Insider Activity at NuScale Power

In related news, insider Clayton Scott sold 10,019 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.78, for a total value of $168,118.82. Following the sale, the insider directly owned 86,965 shares of the company's stock, valued at approximately $1,459,272.70. The trade was a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,278 shares of company stock valued at $1,786,990. 1.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after buying an additional 359 shares during the last quarter. Victory Capital Management Inc. increased its holdings in NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock worth $191,000 after buying an additional 656 shares during the last quarter. Deutsche Bank AG increased its holdings in NuScale Power by 0.9% during the first quarter. Deutsche Bank AG now owns 76,082 shares of the company's stock worth $1,077,000 after buying an additional 686 shares during the last quarter. Farther Finance Advisors LLC raised its stake in NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after buying an additional 833 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock valued at $159,000 after buying an additional 1,260 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

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.