NuScale Power (NYSE:SMR) Shares Down 3.9% - What's Next?

Key Points

• NuScale Power's stock price fell by 3.9%, trading between $42.25 and $44.96 with a significantly increased trading volume of 26 million shares during the session.
• Analysts have mixed viewpoints on NuScale Power, with target prices ranging from $35.00 to $60.00, leading to an average rating of "Hold".
• In recent insider trading, CFO Robert Ramsey Hamady sold 30,641 shares at an average price of $35.59, while a director sold over 1.19 million shares, indicating substantial insider selling activity.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price dropped 3.9% during trading on Monday . The company traded as low as $42.25 and last traded at $44.96. Approximately 26,010,690 shares were traded during trading, an increase of 112% from the average daily volume of 12,260,500 shares. The stock had previously closed at $46.77.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of research reports. BNP Paribas Exane initiated coverage on NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price objective for the company. Northland Capmk upgraded NuScale Power to a "hold" rating in a research report on Monday, July 7th. Royal Bank Of Canada began coverage on NuScale Power in a report on Monday, September 15th. They set a "sector perform" rating and a $35.00 price target for the company. Citigroup began coverage on NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target for the company. Finally, BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of "Hold" and a consensus target price of $36.09.

NuScale Power Stock Performance

The firm has a fifty day simple moving average of $40.48 and a 200 day simple moving average of $30.28. The company has a market capitalization of $11.99 billion, a PE ratio of -35.36 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. Research analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 1,193,504 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $38.95, for a total transaction of $46,486,980.80. Following the sale, the director owned 12,457,907 shares of the company's stock, valued at approximately $485,235,477.65. This trade represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total value of $808,164.34. Following the completion of the sale, the chief operating officer directly owned 90,864 shares of the company's stock, valued at $4,033,452.96. The trade was a 16.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,590,940 shares of company stock worth $97,907,007 in the last ninety days. 1.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in 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 buying an additional 359 shares during the last quarter. Rothschild Investment LLC increased its position in shares of NuScale Power by 45.2% during the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock worth $45,000 after acquiring an additional 350 shares during the period. Harbour Investments Inc. grew its stake in shares of NuScale Power by 21.3% during the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after purchasing an additional 203 shares in the last quarter. Delos Wealth Advisors LLC acquired a new position in NuScale Power in the second quarter valued at $51,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of NuScale Power during the second quarter worth about $61,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

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.