NuScale Power (NYSE:SMR) Shares Down 3.1% - Time to Sell?

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was down 3.1% during trading on Tuesday . The stock traded as low as $42.12 and last traded at $44.02. Approximately 5,686,231 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 10,082,674 shares. The stock had previously closed at $45.44.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SMR shares. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. Northland Securities started coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective on the stock. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Citigroup started coverage on NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target on the stock. Finally, BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, NuScale Power has a consensus rating of "Hold" and a consensus target price of $32.00.

NuScale Power Price Performance

The company has a 50 day moving average price of $34.82 and a 200 day moving average price of $24.36. The firm has a market cap of $12.65 billion, a PE ratio of -32.25 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. The firm 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%. On average, equities analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Clayton Scott sold 10,019 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.94, for a total value of $26,511.10. Following the sale, the vice president owned 1,218 shares in the company, valued at approximately $20,632.92. The trade was a 56.23% decrease in their ownership of the stock. 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. Insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SMR. Quantbot Technologies LP acquired a new position in shares of NuScale Power in the 1st quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after acquiring an additional 359 shares in the last quarter. CoreCap Advisors LLC acquired a new position in shares of NuScale Power in the 4th quarter worth approximately $33,000. NBC Securities Inc. grew its position in shares of NuScale Power by 165,450.0% in the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after acquiring an additional 3,309 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new position in shares of NuScale Power in the 1st quarter worth approximately $50,000. 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.

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