NuScale Power (NYSE:SMR) Stock Price Down 7.9%

Shares of NuScale Power Co. (NYSE:SMR) fell 7.9% during mid-day trading on Friday . The stock traded as low as $8.00 and last traded at $8.39. 2,291,362 shares traded hands during trading, a decline of 55% from the average session volume of 5,043,402 shares. The stock had previously closed at $9.11.

Wall Street Analyst Weigh In

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

NuScale Power Stock Down 6.0 %

The firm has a fifty day moving average of $10.47 and a 200-day moving average of $6.66. The firm has a market cap of $2.08 billion, a P/E ratio of -10.14 and a beta of 1.25.

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

Insider Buying and Selling

In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.07, for a total value of $144,502.42. Following the sale, the general counsel now owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently made changes to their positions in SMR. Vanguard Group Inc. raised its position in NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after acquiring an additional 204,505 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of NuScale Power in the first quarter valued at approximately $58,000. SG Americas Securities LLC increased its stake in shares of NuScale Power by 268.3% during the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after purchasing an additional 39,171 shares during the period. Quadrature Capital Ltd acquired a new stake in NuScale Power during the 4th quarter worth approximately $417,000. Finally, Rheos Capital Works Inc. bought a new stake in NuScale Power in the 1st quarter valued at $1,328,000. 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.