NuScale Power (NYSE:SMR) Trading Down 3.4% - Time to Sell?

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price traded down 3.4% during trading on Tuesday . The company traded as low as $35.55 and last traded at $35.47. 3,407,305 shares traded hands during trading, a decline of 65% from the average session volume of 9,863,910 shares. The stock had previously closed at $36.70.

Analyst Ratings Changes

SMR has been the subject of several recent analyst reports. Citigroup initiated coverage on NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target for the company. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a report on Tuesday, May 20th. CLSA set a $41.00 price target on NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, UBS Group lifted their price target on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $32.00.

NuScale Power Trading Down 4.4%

The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of -25.61 and a beta of 2.04. The firm has a 50 day moving average price of $30.81 and a two-hundred day moving average price of $23.06.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business 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%. As a group, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Jacqueline F. Engel sold 1,565 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president directly owned 1,218 shares of the company's stock, valued at approximately $20,632.92. The trade was a 56.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Clayton Scott sold 10,019 shares of the business's stock in a transaction that occurred on 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 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. Corporate insiders own 1.96% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of SMR. Quantbot Technologies LP acquired a new position in shares of NuScale Power in the 1st quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. raised 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 valued at $31,000 after purchasing an additional 359 shares in the last quarter. CoreCap Advisors LLC acquired a new position in shares of NuScale Power in the 4th quarter valued at approximately $33,000. Twin Tree Management LP acquired a new position in shares of NuScale Power in the 4th quarter valued at approximately $42,000. Finally, NBC Securities Inc. raised 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 valued at $46,000 after purchasing an additional 3,309 shares in the last quarter. 78.37% of the stock is 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.