NuScale Power (NYSE:SMR) Stock Price Down 6.7% – Should You Sell?

by · The Cerbat Gem

NuScale Power Corporation (NYSE:SMR – Get Free Report) dropped 6.7% during trading on Friday . The stock traded as low as $21.30 and last traded at $21.3250. Approximately 25,673,997 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 14,925,894 shares. The stock had previously closed at $22.85.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SMR shares. BNP Paribas lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. BNP Paribas Exane downgraded shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 21st. Barclays initiated coverage on shares of NuScale Power in a report on Monday, September 29th. They set an “equal weight” rating and a $45.00 target price for the company. Wall Street Zen downgraded NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group increased their price objective on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $36.12.

Read Our Latest Report on NuScale Power

NuScale Power Stock Down 6.7%

The company’s fifty day simple moving average is $32.94 and its 200 day simple moving average is $36.35. The firm has a market capitalization of $6.37 billion, a PE ratio of -7.46 and a beta of 2.09.

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 firm had revenue of $8.24 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted ($0.18) EPS. Equities research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In other news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the sale, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 15,000,000 shares of company stock worth $604,862,902 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently modified their holdings of SMR. Allworth Financial LP grew its holdings in NuScale Power by 7.8% during the third quarter. Allworth Financial LP now owns 10,492 shares of the company’s stock valued at $378,000 after purchasing an additional 758 shares during the period. IFP Advisors Inc lifted its holdings in shares of NuScale Power by 128.3% in the third quarter. IFP Advisors Inc now owns 3,984 shares of the company’s stock worth $143,000 after buying an additional 2,239 shares in the last quarter. Cantor Fitzgerald L. P. grew its position in shares of NuScale Power by 78.3% during the third quarter. Cantor Fitzgerald L. P. now owns 13,284 shares of the company’s stock valued at $478,000 after purchasing an additional 5,834 shares in the last quarter. Strategic Advocates LLC bought a new stake in NuScale Power in the 3rd quarter worth approximately $25,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in NuScale Power during the third quarter valued at $94,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

About NuScale Power

(Get Free Report)

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.

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