NuScale Power (NYSE:SMR) Stock Price Down 1.9% – Should You Sell?

NuScale Power Corporation (NYSE:SMRGet Free Report)’s share price was down 1.9% on Friday . The stock traded as low as $38.27 and last traded at $38.41. Approximately 4,057,199 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 9,630,681 shares. The stock had previously closed at $39.16.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SMR shares. BTIG Research reissued a “buy” rating on shares of NuScale Power in a report on Tuesday, May 13th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a “neutral” rating in a report on Tuesday, May 20th. UBS Group upped their target price on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the company a “buy” rating in a report on Thursday, May 29th. Finally, CLSA set a $41.00 target price on NuScale Power and gave the company an “outperform” rating in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Read Our Latest Analysis on SMR

NuScale Power Stock Down 4.9%

The firm has a market cap of $10.59 billion, a price-to-earnings ratio of -27.18 and a beta of 2.00. The business has a 50 day moving average of $25.52 and a 200 day moving average of $21.76.

NuScale Power (NYSE:SMRGet Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. Research analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $20,632.92. This represents a 56.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Lawrence Hopkins sold 34,675 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the transaction, the chief executive officer now owns 49,019 shares in the company, valued at $833,323. This trade represents a 41.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,278 shares of company stock valued at $2,286,280 over the last quarter. Insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in the business. Samsung C&T Corp purchased a new position in shares of NuScale Power in the 4th quarter worth about $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NuScale Power by 1,220.7% in 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 worth $26,127,000 after purchasing an additional 1,705,411 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of NuScale Power in the 4th quarter worth about $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after purchasing an additional 1,153,158 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of NuScale Power in the 1st quarter worth about $14,271,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Company Profile

(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.

Read More

Receive News & Ratings for NuScale Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuScale Power and related companies with MarketBeat.com's FREE daily email newsletter.