NuScale Power (NYSE:SMR) Sets New 52-Week Low – Should You Sell?

by · The Cerbat Gem

NuScale Power Corporation (NYSE:SMR – Get Free Report)’s stock price reached a new 52-week low during trading on Wednesday. The stock traded as low as $6.31 and last traded at $6.2560, with a volume of 572,967 shares trading hands. The stock had previously closed at $6.49.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SMR shares. Canaccord Genuity Group reduced their target price on shares of NuScale Power from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Citigroup cut their target price on NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their target price on NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. Barclays dropped their target price on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Finally, UBS Group lowered NuScale Power from a “neutral” rating to a “sell” rating and decreased their price target for the company from $10.00 to $6.00 in a research note on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, NuScale Power has an average rating of “Hold” and an average price target of $12.96.

Get Our Latest Stock Analysis on SMR

NuScale Power Trading Down 5.3%

The stock has a market capitalization of $2.64 billion, a P/E ratio of -2.13 and a beta of 2.36. The company has a 50-day moving average price of $8.87 and a two-hundred day moving average price of $9.94.

NuScale Power (NYSE:SMR – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The business’s quarterly revenue was down 99.1% compared to the same quarter last year. Research analysts forecast that NuScale Power Corporation will post -0.64 earnings per share for the current year.

Insider Activity at NuScale Power

In other news, COO Carl M. Fisher sold 18,771 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares in the company, valued at $1,073,760.48. This represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 20,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $7.89, for a total value of $157,800.00. Following the completion of the sale, the chief financial officer owned 144,235 shares in the company, valued at $1,138,014.15. This trade represents a 12.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 88,651 shares of company stock worth $791,270. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Assetmark Inc. raised its position in NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after purchasing an additional 2,309 shares during the period. Ameritas Advisory Services LLC bought a new position in NuScale Power in the 2nd quarter worth $27,000. GAMMA Investing LLC lifted its holdings in NuScale Power by 157.5% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,970 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of NuScale Power in the 1st quarter valued at approximately $94,000. Finally, Ancora Advisors LLC purchased a new position in NuScale Power during the 2nd quarter valued at about $92,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

(Get Free Report)

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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