NuScale Power (NYSE:SMR) Stock Price Down 7.1% – What’s Next?

NuScale Power Corporation (NYSE:SMR) shares were down 7.1% during trading on Wednesday . The company traded as low as $9.27 and last traded at $9.2950. Approximately 27,209,213 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 30,145,045 shares. The stock had previously closed at $10.00.

Analysts Set New Price Targets

A number of research analysts recently commented on SMR shares. Zacks Research upgraded shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Bank of America started coverage on shares of NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target on the stock. Cantor Fitzgerald decreased their price target on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. UBS Group decreased their price target on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, Citigroup decreased their price target on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Performance

The stock has a market cap of $3.40 billion, a P/E ratio of -3.18 and a beta of 2.20. The stock’s fifty day simple moving average is $11.47 and its 200-day simple moving average is $14.58.

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

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 39,936,472 shares of company stock worth $472,831,169. Corporate insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently made changes to their positions in SMR. Royal Bank of Canada lifted its holdings in shares of NuScale Power by 623.4% during the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after acquiring an additional 394,065 shares during the period. AQR Capital Management LLC lifted its stake in NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after purchasing an additional 10,244 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in NuScale Power in the 1st quarter valued at approximately $390,000. Jones Financial Companies Lllp lifted its stake in NuScale Power by 9.1% in the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after purchasing an additional 1,394 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after purchasing an additional 1,705,411 shares during the last quarter. Institutional investors 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.