NuScale Power (NYSE:SMR) Stock Price Down 9.9% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price traded down 9.9% during mid-day trading on Wednesday . The company traded as low as $12.36 and last traded at $12.57. 14,479,686 shares changed hands during trading, a decline of 51% from the average session volume of 29,507,969 shares. The stock had previously closed at $13.95.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SMR. HSBC began coverage on shares of NuScale Power in a report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Zacks Research raised shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Barclays cut their price target on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, February 23rd. Finally, The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Performance

The business has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $15.05. The stock has a market capitalization of $4.48 billion, a P/E ratio of -4.20 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm had revenue of $0.57 million for the quarter, compared to the consensus estimate of $7.00 million. The firm’s quarterly revenue was down 95.8% compared to the same quarter last year. Equities research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $12.07, for a total value of $162,945,000.00. Following the sale, the director directly owned 26,436,472 shares in the company, valued at $319,088,217.04. The trade was a 33.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 39,936,472 shares of company stock valued at $472,831,169. Insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMR. Vanguard Group Inc. lifted its position in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after acquiring an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after acquiring an additional 6,227,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after acquiring an additional 1,346,796 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of NuScale Power during the first quarter worth $59,141,000. Finally, Morgan Stanley raised its position in shares of NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after purchasing an additional 2,361,532 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.