NuScale Power (NYSE:SMR) Stock Price Down 5.6%

NuScale Power Co. (NYSE:SMR)’s stock price dropped 5.6% during trading on Thursday . The company traded as low as $9.45 and last traded at $9.65. Approximately 1,256,270 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 5,038,570 shares. The stock had previously closed at $10.22.

Analyst Upgrades and Downgrades

Separately, B. Riley upped their target price on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, NuScale Power has a consensus rating of “Hold” and an average price target of $8.15.

NuScale Power Price Performance

The business’s 50 day moving average price is $10.42 and its 200-day moving average price is $6.65. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -10.48 and a beta of 1.25.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The company had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. During the same period in the prior year, the business posted ($0.16) earnings per share. As a group, analysts expect that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the sale, the insider now owns 43,549 shares of the company’s stock, valued at $263,035.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $95,287.04. Following the sale, the chief technology officer now owns 478,306 shares of the company’s stock, valued at $2,888,968.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the transaction, the insider now directly owns 43,549 shares in the company, valued at approximately $263,035.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,131 shares of company stock worth $339,745. 1.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of SMR. Swedbank AB purchased a new position in shares of NuScale Power during the first quarter valued at approximately $18,585,000. Van ECK Associates Corp purchased a new position in shares of NuScale Power during the second quarter valued at approximately $7,600,000. Rheos Capital Works Inc. purchased a new position in shares of NuScale Power during the first quarter valued at approximately $1,328,000. Vanguard Group Inc. lifted its stake in shares of NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after buying an additional 204,505 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NuScale Power by 5.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after buying an additional 172,408 shares during the period. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.