NuScale Power (NYSE:SMR) Stock Price Down 6.7% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shares traded down 6.7% during mid-day trading on Tuesday . The stock traded as low as $8.64 and last traded at $8.9650. 29,774,409 shares traded hands during trading, a decline of 3% from the average daily volume of 30,568,563 shares. The stock had previously closed at $9.61.

Analyst Ratings Changes

A number of analysts have recently weighed in on SMR shares. Northland Securities set a $19.00 price objective on NuScale Power in a research report on Monday, May 11th. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a research report on Friday, May 8th. B. Riley Financial decreased their price target on 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 NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. Finally, UBS Group cut 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NuScale Power has an average rating of “Hold” and a consensus target price of $15.92.

NuScale Power Stock Performance

The stock has a market capitalization of $3.31 billion, a PE ratio of -3.12 and a beta of 2.24. The business’s 50-day moving average is $11.12 and its two-hundred day moving average is $13.24.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $7.00 million. The business’s revenue was down 95.8% compared to the same quarter last year. Equities analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction dated 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 available at this hyperlink. Insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nemes Rush Group LLC acquired a new position in NuScale Power in the 3rd quarter valued at $25,000. Strategic Advocates LLC purchased a new stake in NuScale Power in the third quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC increased its position in NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after purchasing an additional 1,675 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after purchasing an additional 2,309 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in NuScale Power in the fourth quarter valued at $30,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.