NuScale Power (NYSE:SMR) Reaches New 52-Week Low - Time to Sell?

Key Points

• NuScale Power shares fell to a new 52-week low of $6.31, with the stock trading well below its 50-day and 200-day moving averages. The company has a $2.64 billion market capitalization and a beta of 2.36.
• Analysts have generally reduced their price targets, producing a consensus “Hold” rating and an average target of $12.96. Ratings include one Strong Buy, four Buys, eight Holds, and four Sells.
• NuScale reported a quarterly loss of $0.13 per share and just $0.07 million in revenue, down 99.1% year over year and far below the $8.80 million analyst estimate. Insiders sold 88,651 shares worth about $791,270 during the latest quarter.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $6.31 and last traded at $6.2560, with a volume of 572,967 shares changing hands. The stock had previously closed at $6.49.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SMR shares. B. Riley Financial lowered their price objective on NuScale Power from $19.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 14th. Barclays decreased their price objective on shares of NuScale Power from $15.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Canaccord Genuity Group decreased their price target on shares of NuScale Power from $25.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Northland Securities set a $16.00 price target on NuScale Power in a research report on Thursday, August 6th. Finally, Truist Financial began coverage on NuScale Power in a research report on Monday, July 13th. They issued a "hold" rating and a $10.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.96.

NuScale Power Stock Down 5.3%

The firm has a market cap of $2.64 billion, a P/E ratio of -2.13 and a beta of 2.36. The company has a 50 day moving average of $8.87 and a two-hundred day moving average of $9.94.

NuScale Power (NYSE:SMR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.13). The firm had revenue of $0.07 million during the quarter, compared to analysts' expectations of $8.80 million. NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The firm's revenue for the quarter was down 99.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. Research analysts expect that NuScale Power Corporation will post -0.64 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In related news, COO Carl Fisher sold 18,771 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the completion of the sale, the chief operating officer directly owned 114,718 shares in the company, valued at approximately $1,073,760.48. This represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $7.89, for a total value of $157,800.00. Following the completion of the transaction, the chief financial officer directly owned 144,235 shares in the company, valued at $1,138,014.15. The trade was a 12.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 88,651 shares of company stock valued at $791,270. 1.28% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of NuScale Power by 157.5% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock worth $25,000 after purchasing an additional 1,970 shares in the last quarter. Assetmark Inc. raised its stake in shares of NuScale Power by 1,940.3% during the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company's stock worth $26,000 after purchasing an additional 2,309 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in NuScale Power during the second quarter worth $27,000. Ancora Advisors LLC bought a new position in shares of NuScale Power in the 2nd quarter valued at about $92,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of NuScale Power in the 1st quarter valued at about $94,000. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and process heat. Its primary product is the VOYGR SMR power plant, which is based on the company's proprietary pressurized light-water reactor design. The plants are intended to be built from factory-produced modules and can be configured for applications including utility-scale power generation, industrial heat, hydrogen production, and water desalination.

NuScale provides reactor technology, engineering and design support, licensing assistance, and services intended to help customers develop and deploy SMR facilities.

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