NuScale Power (NYSE:SMR) Shares Down 6.4% – Here’s Why

NuScale Power Corporation (NYSE:SMR)’s share price traded down 6.4% during trading on Wednesday . The stock traded as low as $9.97 and last traded at $10.1620. Approximately 32,688,768 shares traded hands during trading, an increase of 6% from the average session volume of 30,817,742 shares. The stock had previously closed at $10.86.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday. B. Riley Financial cut their target price on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, April 24th. Citigroup lowered their price target on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a report on Monday, May 11th. Canaccord Genuity Group dropped their price target on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.92.

NuScale Power Trading Down 0.8%

The business has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $13.81. The company has a market cap of $3.65 billion, a PE ratio of -3.41 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm’s revenue was down 95.8% on a year-over-year basis. Equities analysts expect that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Activity

In related news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last ninety days. Corporate 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 the business. MAI Capital Management increased its position in shares of NuScale Power by 37.0% during the third quarter. MAI Capital Management now owns 1,654 shares of the company’s stock valued at $60,000 after acquiring an additional 447 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of NuScale Power by 32.4% in the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock valued at $34,000 after buying an additional 592 shares in the last quarter. Strategic Advocates LLC acquired a new stake in shares of NuScale Power in the third quarter valued at $25,000. Nemes Rush Group LLC purchased a new stake in NuScale Power during the 3rd quarter worth approximately $25,000. Finally, Balboa Wealth Partners increased its position in shares of NuScale Power by 5.9% during the fourth quarter. Balboa Wealth Partners now owns 13,465 shares of the company’s stock worth $191,000 after acquiring an additional 756 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.