NuScale Power (NYSE:SMR) Sets New 12-Month Low - Time to Sell?

Key Points

• NuScale Power shares fell 5.9% to a new 52-week low of $7.20, well below their 50-day and 200-day moving averages of $9.03 and $10.07.
• Analyst sentiment is mixed but leans cautious: the consensus rating is “Hold” with a $12.96 price target, while UBS downgraded the stock to “Sell” and cut its target to $6.
• The company reported a $0.13 quarterly loss per share and just $0.07 million in revenue, down 99.1% year over year; insiders also sold shares, though the transactions were attributed to tax withholding on vested equity awards.

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) reached a new 52-week low during trading on Thursday. The stock traded as low as $7.20 and last traded at $7.2150, with a volume of 20437412 shares traded. The stock had previously closed at $7.67.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of NuScale Power from $14.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 11th. UBS Group lowered NuScale Power from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $10.00 to $6.00 in a report on Friday, September 11th. B. Riley Financial dropped their target price on NuScale Power from $19.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of NuScale Power in a research note on Monday, September 21st. Finally, Northland Securities set a $16.00 price target on NuScale Power in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, NuScale Power has a consensus rating of "Hold" and a consensus price target of $12.96.

NuScale Power Stock Down 5.9%

The stock has a market cap of $3.10 billion, a PE ratio of -2.47 and a beta of 2.36. The business's fifty day moving average is $9.03 and its 200 day moving average is $10.07.

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

Insider Buying and Selling

In other news, CFO Robert Hamady sold 29,880 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $9.39, for a total value of $280,573.20. Following the completion of the transaction, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. This trade represents a 19.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Carl M. Fisher sold 18,771 shares of NuScale Power stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total value of $175,696.56. Following the transaction, the chief operating officer directly owned 114,718 shares of the company's stock, valued at $1,073,760.48. This trade represents a 14.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 88,651 shares of company stock valued at $791,270. 1.28% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new position in NuScale Power during the 2nd quarter valued at about $126,000. WINTON GROUP Ltd purchased a new stake in shares of NuScale Power in the second quarter valued at about $392,000. Integrated Wealth Concepts LLC lifted its holdings in shares of NuScale Power by 153.6% in the second quarter. Integrated Wealth Concepts LLC now owns 65,623 shares of the company's stock valued at $658,000 after purchasing an additional 39,751 shares in the last quarter. RFG Advisory LLC grew its position in shares of NuScale Power by 33.1% in the second quarter. RFG Advisory LLC now owns 60,622 shares of the company's stock valued at $608,000 after purchasing an additional 15,092 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of NuScale Power by 203.3% in the second quarter. NewEdge Advisors LLC now owns 146,870 shares of the company's stock valued at $1,473,000 after purchasing an additional 98,440 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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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