NuScale Power (NYSE:SMR) Trading Down 5.6% - What's Next?

Key Points

• NuScale Power shares fell by 5.6%, closing at $36.02 after trading as low as $35.92, with increased trading volume of over 20 million shares.
• Multiple analysts have issued ratings and price targets for NuScale Power, with estimates ranging from $34.00 to $45.00, giving the stock a consensus rating of "Hold."
• Insider selling is notable, including a significant transaction where a director sold approximately 588,720 shares for over $22 million, indicating potential shifts in ownership dynamics within the company.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares dropped 5.6% during trading on Tuesday . The company traded as low as $35.92 and last traded at $36.02. Approximately 20,284,566 shares changed hands during mid-day trading, an increase of 63% from the average daily volume of 12,447,935 shares. The stock had previously closed at $38.16.

Analysts Set New Price Targets

SMR has been the subject of a number of analyst reports. BNP Paribas Exane started 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. Barclays began coverage on NuScale Power in a research note on Monday. They issued an "equal weight" rating and a $45.00 target price on the stock. Northland Capmk raised NuScale Power to a "hold" rating in a research report on Monday, July 7th. Royal Bank Of Canada initiated coverage on shares of NuScale Power in a research report on Monday, September 15th. They set a "sector perform" rating and a $35.00 price objective on the stock. Finally, Bank of America restated an "underperform" rating and set a $34.00 price objective (down from $38.00) on shares of NuScale Power in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $36.67.

NuScale Power Stock Performance

The firm has a market cap of $10.26 billion, a P/E ratio of -30.27 and a beta of 2.03. The business's 50-day simple moving average is $39.74 and its 200 day simple moving average is $31.08.

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

Insider Transactions at NuScale Power

In other news, Director Corp Fluor sold 588,720 shares of the company's stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $37.97, for a total transaction of $22,353,698.40. Following the completion of the sale, the director owned 5,562,897 shares of the company's stock, valued at $211,223,199.09. This represents a 9.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,647,211.97. The trade was a 39.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,485,950 shares of company stock valued at $388,621,483. Corporate insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of SMR. Quantbot Technologies LP purchased a new position in NuScale Power during the first quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of NuScale Power by 84.5% in the second 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 period. Rothschild Investment LLC lifted its position in shares of NuScale Power by 45.2% during the 2nd quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after buying an additional 350 shares in the last quarter. NBC Securities Inc. grew its stake in shares of NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after acquiring an additional 3,309 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after acquiring an additional 203 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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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