NuScale Power (NYSE:SMR) Shares Down 24.4% – Time to Sell?

NuScale Power Co. (NYSE:SMR) shares were down 24.4% during mid-day trading on Monday . The stock traded as low as $21.12 and last traded at $21.14. Approximately 12,088,411 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 10,684,083 shares. The stock had previously closed at $27.97.

Analyst Ratings Changes

Separately, Craig Hallum boosted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Up 4.9 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $22.72 and its 200 day moving average price is $16.55. The firm has a market cap of $5.61 billion, a P/E ratio of -23.13 and a beta of 1.47.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The company had revenue of $0.48 million for the quarter, compared to analyst estimates of $6.18 million. During the same quarter last year, the company posted ($0.26) EPS.

Insider Activity

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of SMR. Hsbc Holdings PLC bought a new position in NuScale Power in the 2nd quarter valued at $126,000. Sei Investments Co. acquired a new position in NuScale Power in the second quarter valued at about $520,000. Squarepoint Ops LLC bought a new stake in NuScale Power during the 2nd quarter worth approximately $783,000. The Manufacturers Life Insurance Company raised its holdings in NuScale Power by 37.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock worth $345,000 after buying an additional 8,096 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in NuScale Power in the second quarter valued at approximately $419,000. 78.37% of the stock is owned by institutional investors.

NuScale Power Company Profile

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.