NuScale Power (NYSE:SMR) Stock Price Down 4% – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMR) traded down 4% during mid-day trading on Thursday . The stock traded as low as $9.60 and last traded at $9.7450. 27,875,170 shares changed hands during trading, a decline of 9% from the average daily volume of 30,657,188 shares. The stock had previously closed at $10.15.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMR. Northland Securities set a $19.00 price target on NuScale Power in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. HSBC started coverage on NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price for the company. Bank of America began coverage on shares of NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. Finally, B. Riley Financial decreased their price objective on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Trading Down 4.0%

The stock has a market capitalization of $3.56 billion, a P/E ratio of -3.34 and a beta of 2.24. The company has a fifty day simple moving average of $11.44 and a two-hundred day simple moving average of $13.50.

NuScale Power (NYSE:SMR) last issued its earnings results 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 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%. The firm’s revenue was down 95.8% on a year-over-year basis. As a group, analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Van ECK Associates Corp grew its position in shares of NuScale Power by 117.8% during the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after buying an additional 6,227,747 shares during the period. Renaissance Technologies LLC bought a new stake in NuScale Power in the first quarter valued at approximately $59,141,000. Vanguard Group Inc. raised its holdings in NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after purchasing an additional 4,482,254 shares during the period. Clear Street Group Inc. acquired a new stake in NuScale Power in the third quarter worth $155,616,000. Finally, Voloridge Investment Management LLC bought a new position in shares of NuScale Power during the fourth quarter worth $48,993,000. Institutional investors own 78.37% of the company’s stock.

About NuScale Power

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.