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

Key Points

• NuScale Power's stock price fell 3.4% during trading, dropping to $36.02, with trading volume declining by 70% compared to average levels.
• Analysts are mixed on NuScale Power, with BTIG Research downgrading the stock to a "neutral" rating while Canaccord Genuity raised its target price and maintained a "buy" rating.
• NuScale reported a loss of $0.13 per share for the quarter, missing analysts' expectations, alongside revenue of $8.05 million compared to the anticipated $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price fell 3.4% during mid-day trading on Thursday . The stock traded as low as $36.20 and last traded at $36.02. 3,472,622 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 11,578,709 shares. The stock had previously closed at $37.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Canaccord Genuity Group raised their target price on NuScale Power from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday. BNP Paribas raised shares of NuScale Power to a "hold" rating in a report on Friday, July 25th. Citigroup began coverage on shares of NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 target price for the company. Finally, The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $34.44.

NuScale Power Stock Performance

The firm has a market cap of $10.13 billion, a PE ratio of -29.90 and a beta of 2.06. The stock's fifty day moving average price is $41.18 and its 200-day moving average price is $27.20.

NuScale Power (NYSE:SMR - Get Free Report) last posted 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 firm had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Sell-side analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the company. Kaizen Financial Strategies bought a new position in shares of NuScale Power during the 1st quarter worth approximately $204,000. Cambridge Investment Research Advisors Inc. boosted its stake 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 worth $2,734,000 after acquiring an additional 46,744 shares during the period. California State Teachers Retirement System boosted its stake 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 worth $1,429,000 after acquiring an additional 12,070 shares during the period. Geode Capital Management LLC boosted its stake in shares of NuScale Power by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock worth $35,249,000 after acquiring an additional 135,613 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake 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 worth $943,000 after acquiring an additional 13,373 shares during the period. 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.

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