NuScale Power (NYSE:SMR) Trading Down 4% – Should You Sell?

NuScale Power Co. (NYSE:SMR) shares fell 4% during mid-day trading on Thursday . The stock traded as low as $17.58 and last traded at $18.31. 9,649,738 shares changed hands during mid-day trading, an increase of 83% from the average session volume of 5,262,387 shares. The stock had previously closed at $19.07.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SMR. B. Riley increased their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. CLSA initiated coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Finally, Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Down 3.4 %

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The company has a market cap of $4.59 billion, a PE ratio of -17.78 and a beta of 1.25. The business has a 50-day simple moving average of $10.19 and a 200-day simple moving average of $9.07.

NuScale Power (NYSE:SMR) last issued 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 net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter last year, the firm posted ($0.13) earnings per share.

Insider Activity at NuScale Power

In other news, insider Robert K. Temple sold 68,558 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at $182,983.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Robert K. Temple sold 68,558 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $13.02, for a total transaction of $892,625.16. Following the sale, the insider now owns 14,054 shares of the company’s stock, valued at approximately $182,983.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares of the company’s stock, valued at $460,294.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,729 shares of company stock worth $4,178,595. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Swedbank AB purchased a new position in shares of NuScale Power in the 1st quarter valued at about $18,585,000. Van ECK Associates Corp purchased a new position in shares of NuScale Power in the 2nd quarter valued at about $7,600,000. Bank of New York Mellon Corp lifted its holdings in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after purchasing an additional 137,382 shares during the last quarter. Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power in the 1st quarter valued at about $1,328,000. Finally, Wedbush Securities Inc. increased its holdings in shares of 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. 15.28% 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.