NuScale Power (NYSE:SMR) Trading Down 2.6% - Time to Sell?

Key Points

• NuScale Power's stock price fell by 2.6% during midday trading, closing at $35.09, with a significant decline in trading volume compared to its average.
• Equities analysts have issued mixed ratings for NuScale Power, with a consensus rating of "Hold" and a target price averaging $36.20.
• Recent insider selling includes COO Carl M. Fisher, who sold over 18,000 shares, and CFO Robert Ramsey Hamady, who sold over 30,000 shares, indicating a reduction in ownership among key executives.

NuScale Power Corporation (NYSE:SMR - Get Free Report) traded down 2.6% on Friday . The company traded as low as $34.73 and last traded at $35.09. 5,955,497 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 11,723,146 shares. The stock had previously closed at $36.03.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. CLSA set a $41.00 price objective on shares of NuScale Power and gave the stock an "outperform" rating in a report on Tuesday, May 27th. Bank of America assumed coverage on shares of NuScale Power in a report on Thursday, August 21st. They issued a "neutral" rating and a $36.00 price objective for the company. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Finally, Canaccord Genuity Group boosted their target price on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $36.20.

NuScale Power Stock Performance

The business's 50-day moving average price is $40.26 and its 200-day moving average price is $28.63. The stock has a market cap of $9.83 billion, a P/E ratio of -29.00 and a beta of 2.03.

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

Insider Buying and Selling at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the transaction, the chief operating officer owned 90,864 shares of the company's stock, valued at $4,033,452.96. This represents a 16.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the transaction, the chief financial officer directly owned 46,283 shares of the company's stock, valued at $1,647,211.97. This trade represents a 39.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kaizen Financial Strategies purchased a new stake in shares of NuScale Power during the 1st quarter valued at about $204,000. Cambridge Investment Research Advisors Inc. raised its position in shares of NuScale Power by 31.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock valued at $2,734,000 after buying an additional 46,744 shares in the last quarter. California State Teachers Retirement System raised its position in shares of NuScale Power by 17.9% during the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock valued at $1,429,000 after buying an additional 12,070 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of NuScale Power by 34.1% during the 4th quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock valued at $943,000 after buying an additional 13,373 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of NuScale Power by 6.9% during the 1st 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 in the last quarter. Institutional investors 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.