NuScale Power (NYSE:SMR) Shares Down 1.4% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shares dropped 1.4% on Thursday . The company traded as low as $9.81 and last traded at $10.0660. Approximately 22,295,562 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 30,754,324 shares. The stock had previously closed at $10.21.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of research reports. Bank of America assumed coverage on shares of NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 target price for the company. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research note on Friday, May 8th. UBS Group reduced their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Northland Securities set a $19.00 target price on NuScale Power in a research report on Monday, May 11th. Finally, Royal Bank Of Canada lowered their target price on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Price Performance

The firm’s 50 day moving average price is $11.56 and its two-hundred day moving average price is $13.79. The stock has a market cap of $3.68 billion, a PE ratio of -3.45 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was down 95.8% on a year-over-year basis. Analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 39,936,472 shares of company stock worth $472,831,169. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently modified their holdings of SMR. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NuScale Power by 35.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company’s stock valued at $11,659,000 after purchasing an additional 213,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after buying an additional 1,346,796 shares during the period. Caz Investments LP grew its position in NuScale Power by 10,000.0% during the fourth quarter. Caz Investments LP now owns 101,000 shares of the company’s stock worth $1,431,000 after buying an additional 100,000 shares in the last quarter. Clear Street Group Inc. bought a new position in NuScale Power in the 3rd quarter worth about $155,616,000. Finally, Seven Grand Managers LLC purchased a new stake in shares of NuScale Power in the 4th quarter valued at about $1,771,000. 78.37% of the stock is currently owned by 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.