NuScale Power (NYSE:SMR) Trading Down 7.7% - Should You Sell?

Key Points

• NuScale Power's stock price has decreased by 7.7%, trading at around $41.55 after hitting a low of $41.07 during mid-day trading on Tuesday, with a trading volume significantly above its average.
• Recent analyst reports show a mixed outlook, with a consensus rating of Hold and a price target average of $36.09, despite three analysts rating it as Buy.
• The company reported a earnings miss, with an EPS of ($0.13), falling short of analyst expectations, and a negative net margin of 221.07% for the last quarter.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price dropped 7.7% during mid-day trading on Tuesday . The company traded as low as $41.07 and last traded at $41.55. Approximately 20,864,060 shares were traded during trading, an increase of 69% from the average daily volume of 12,310,547 shares. The stock had previously closed at $45.00.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of recent research reports. CLSA set a $41.00 price objective on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Royal Bank Of Canada began 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 target on the stock. Canaccord Genuity Group raised their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Northland Securities started coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 target price on the stock. Finally, BNP Paribas Exane began coverage on shares of NuScale Power in a research note on Friday, July 25th. They issued a "neutral" rating and a $41.00 price target for the company. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $36.09.

NuScale Power Stock Down 7.7%

The stock's 50-day simple moving average is $40.48 and its 200 day simple moving average is $30.28. The company has a market cap of $11.84 billion, a price-to-earnings ratio of -34.91 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. On average, sell-side 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, CFO Robert Ramsey Hamady sold 30,641 shares of the business's 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 sale, the chief financial officer directly owned 46,283 shares in the company, valued at $1,647,211.97. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Carl M. Fisher sold 18,206 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the sale, the chief operating officer owned 90,864 shares in the company, valued at $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,590,940 shares of company stock worth $97,907,007 over the last three months. Company insiders own 1.96% of the company's stock.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Infini Capital Management Ltd purchased a new stake in shares of NuScale Power during the second quarter worth approximately $989,000. Orion Porfolio Solutions LLC increased its stake in shares of NuScale Power by 9.4% during the second quarter. Orion Porfolio Solutions LLC now owns 32,663 shares of the company's stock worth $1,292,000 after buying an additional 2,798 shares during the period. Marex Group plc purchased a new stake in shares of NuScale Power during the second quarter worth approximately $717,000. Delos Wealth Advisors LLC purchased a new stake in shares of NuScale Power during the second quarter worth approximately $51,000. Finally, FORA Capital LLC purchased a new stake in shares of NuScale Power during the second quarter worth approximately $5,549,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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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