NuScale Power (NYSE:SMR) Trading Down 9.5% - Time to Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price was down 9.5% during trading on Tuesday . The stock traded as low as $16.71 and last traded at $17.16. Approximately 8,714,261 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 5,537,415 shares. The stock had previously closed at $18.96.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. CLSA initiated coverage on NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 price objective for the company. B. Riley lifted their price objective on NuScale Power from $8.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, June 27th. Finally, Craig Hallum raised their target price on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Down 6.1 %

The business has a 50-day simple moving average of $10.75 and a 200-day simple moving average of $9.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $4.33 billion, a price-to-earnings ratio of -20.59 and a beta of 1.25.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.18). The firm had revenue of $0.97 million during the quarter, compared to analysts' expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period in the prior year, the company posted ($0.13) earnings per share.

Insider Activity

In related news, insider Robert K. Temple sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 19,054 shares of the company's stock, valued at $190,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the transaction, the insider now owns 19,054 shares in the company, valued at approximately $190,540. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

A number of large investors have recently bought and sold shares of SMR. Swedbank AB acquired a new stake in shares of NuScale Power during the first quarter worth about $18,585,000. Van ECK Associates Corp purchased a new position in shares of NuScale Power in the 2nd quarter valued at approximately $7,600,000. Bank of New York Mellon Corp increased its holdings in shares of NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock valued at $3,256,000 after purchasing an additional 137,382 shares during the period. Wedbush Securities Inc. raised its stake in shares of NuScale Power by 84.9% during the second quarter. Wedbush Securities Inc. now owns 188,600 shares of the company's stock worth $2,205,000 after purchasing an additional 86,600 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company's stock valued at $2,167,000 after buying an additional 131,570 shares during the last quarter. Institutional investors and hedge funds own 15.28% of the company's stock.

About NuScale Power

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.