NuScale Power (NYSE:SMR) Shares Down 5.3% – Should You Sell?
by Michael Walen · The Markets DailyNuScale Power Corporation (NYSE:SMR – Get Free Report)’s share price traded down 5.3% on Tuesday . The stock traded as low as $16.73 and last traded at $16.75. 15,795,830 shares changed hands during trading, a decline of 48% from the average session volume of 30,357,125 shares. The stock had previously closed at $17.68.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Cantor Fitzgerald initiated coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price for the company. Texas Capital upgraded NuScale Power to a “strong-buy” rating in a report on Tuesday, January 27th. Citigroup restated a “sell” rating and set a $37.50 target price (down previously from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. UBS Group set a $20.00 price target on shares of NuScale Power in a research note on Tuesday, November 25th. Finally, BNP Paribas Exane cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.19.
Read Our Latest Stock Report on NuScale Power
NuScale Power Stock Performance
The company has a market capitalization of $5.00 billion, a PE ratio of -5.86 and a beta of 2.13. The company’s 50-day moving average is $18.21 and its 200 day moving average is $30.02.
Insiders Place Their Bets
In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at $1,026,094.11. The trade was a 46.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On NuScale Power
Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Royal Bank of Canada raised its stake in NuScale Power by 623.4% during the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock valued at $6,475,000 after buying an additional 394,065 shares during the last quarter. AQR Capital Management LLC increased its position in NuScale Power by 37.4% during the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after acquiring an additional 10,244 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in NuScale Power in the first quarter valued at about $390,000. Jones Financial Companies Lllp boosted its position in NuScale Power by 9.1% in the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock worth $238,000 after purchasing an additional 1,394 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after purchasing an additional 1,705,411 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.
NuScale Power Company Profile
NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.
At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.
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