NuScale Power (NYSE:SMR) Shares Down 7.1% – Should You Sell?
by Danessa Lincoln · The Markets DailyShares of NuScale Power Corporation (NYSE:SMR – Get Free Report) dropped 7.1% during trading on Monday . The stock traded as low as $18.28 and last traded at $18.36. Approximately 21,845,737 shares changed hands during trading, a decline of 36% from the average daily volume of 33,943,707 shares. The stock had previously closed at $19.77.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. BNP Paribas Exane lowered NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Cantor Fitzgerald initiated coverage on NuScale Power in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price objective for the company. UBS Group set a $20.00 target price on shares of NuScale Power in a report on Tuesday, November 25th. Finally, B. Riley lowered their price target on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.42.
View Our Latest Stock Analysis on NuScale Power
NuScale Power Stock Performance
The firm’s 50-day simple moving average is $18.62 and its 200-day simple moving average is $32.11.
NuScale Power (NYSE:SMR – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The company had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm’s revenue was up 1635.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, equities research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.
Insider Transactions at NuScale Power
In other NuScale Power news, CFO Robert Ramsey Hamady sold 40,000 shares of NuScale Power stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the transaction, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at $1,026,094.11. The trade was a 46.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.
Institutional Trading of NuScale Power
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NuScale Power by 22.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after buying an additional 1,346,796 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of NuScale Power by 67.2% during the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock worth $190,362,000 after acquiring an additional 2,125,250 shares during the last quarter. Samsung C&T Corp grew its stake in NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after acquiring an additional 2,578,702 shares in the last quarter. Clear Street Group Inc. purchased a new stake in NuScale Power in the 3rd quarter worth $155,616,000. Finally, Geode Capital Management LLC boosted its holdings in shares of NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after purchasing an additional 574,295 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.
About NuScale Power
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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