NuScale Power (NYSE:SMR) Trading Down 1.5% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price dropped 1.5% during trading on Friday . The company traded as low as $8.39 and last traded at $8.4710. 38,658,189 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 30,395,574 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMR. HSBC assumed coverage on NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. B. Riley Financial reduced their target price 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 reiterated a “sell” rating on shares of NuScale Power in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group set a $9.00 price target on shares of NuScale Power in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.15.

NuScale Power Stock Performance

The stock has a market capitalization of $3.10 billion, a PE ratio of -2.90 and a beta of 2.24. The business’s 50-day moving average price is $9.96 and its 200 day moving average price is $12.28.

NuScale Power (NYSE:SMR) last issued 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 $0.56 million during the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company’s revenue was down 95.8% compared to the same quarter last year. As a group, equities research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of the business. Harbour Investments Inc. boosted its position in shares of NuScale Power by 32.4% during the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock valued at $34,000 after acquiring an additional 592 shares during the last quarter. Balboa Wealth Partners increased its position in shares of NuScale Power by 5.9% in the fourth quarter. Balboa Wealth Partners now owns 13,465 shares of the company’s stock worth $191,000 after purchasing an additional 756 shares during the last quarter. Arax Advisory Partners raised its stake in NuScale Power by 26.0% in the fourth quarter. Arax Advisory Partners now owns 3,739 shares of the company’s stock valued at $53,000 after purchasing an additional 772 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in NuScale Power by 7.7% in the third quarter. Newbridge Financial Services Group Inc. now owns 14,270 shares of the company’s stock valued at $514,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Triumph Capital Management bought a new stake in NuScale Power during the third quarter valued at approximately $37,000. Hedge funds and other 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.