NuScale Power (NYSE:SMR) Shares Down 9.5% – Time to Sell?

Shares of NuScale Power Co. (NYSE:SMR) were down 9.5% during mid-day trading on Tuesday . The stock traded as low as $16.71 and last traded at $17.16. Approximately 8,714,261 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 5,537,415 shares. The stock had previously closed at $18.96.

Analysts Set New Price Targets

A number of equities analysts recently commented on SMR shares. Craig Hallum raised their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. B. Riley upped their price objective on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Down 2.7 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of -16.83 and a beta of 1.25. The business’s 50 day moving average is $11.06 and its 200 day moving average is $9.50.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. During the same period in the prior year, the company posted ($0.13) earnings per share.

Insider Buying and Selling at NuScale Power

In other news, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the sale, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 490,595 shares of company stock worth $6,287,356 over the last three months. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the business. Swedbank AB purchased a new position in NuScale Power during the 1st quarter worth $18,585,000. Van ECK Associates Corp acquired a new stake in shares of NuScale Power during the second quarter worth about $7,600,000. Bank of New York Mellon Corp grew its holdings in shares of NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares during the last quarter. Wedbush Securities Inc. increased its position in NuScale Power by 84.9% in the 2nd quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock valued at $2,205,000 after acquiring an additional 86,600 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after purchasing an additional 131,570 shares during the period. 15.28% of the stock is owned by institutional investors and hedge funds.

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.