NuScale Power (NYSE:SMR) Shares Gap Down – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s share price gapped down before the market opened on Friday . The stock had previously closed at $10.21, but opened at $9.66. NuScale Power shares last traded at $9.41, with a volume of 11,249,485 shares.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Northland Securities set a $16.00 price objective on shares of NuScale Power in a research report on Thursday, August 6th. Bank of America assumed coverage on NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 target price on the stock. Royal Bank Of Canada cut their price target on NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Finally, Truist Financial started coverage on NuScale Power in a research note on Monday, July 13th. They set a “hold” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.96.

NuScale Power Trading Down 12.4%

The company has a market cap of $3.85 billion, a price-to-earnings ratio of -3.05 and a beta of 2.30. The firm has a 50-day moving average price of $9.14 and a 200 day moving average price of $10.63.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. During the same period in the prior year, the company posted ($0.11) EPS. The business’s revenue was down 99.1% compared to the same quarter last year. Research analysts anticipate that NuScale Power Corporation will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In related news, CFO Robert Hamady sold 29,880 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $9.39, for a total transaction of $280,573.20. Following the completion of the sale, the chief financial officer owned 124,235 shares of the company’s stock, valued at $1,166,566.65. This represents a 19.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shinji Fujino sold 20,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total transaction of $177,200.00. Following the sale, the director owned 17,242 shares in the company, valued at approximately $152,764.12. This trade represents a 53.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,651 shares of company stock worth $633,470 over the last 90 days. Insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new position in shares of NuScale Power during the second quarter valued at approximately $126,000. WINTON GROUP Ltd bought a new stake in shares of NuScale Power in the 2nd quarter worth approximately $392,000. Integrated Wealth Concepts LLC boosted its position in NuScale Power by 153.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 65,623 shares of the company’s stock valued at $658,000 after purchasing an additional 39,751 shares during the period. RFG Advisory LLC boosted its position in NuScale Power by 33.1% during the 2nd quarter. RFG Advisory LLC now owns 60,622 shares of the company’s stock valued at $608,000 after purchasing an additional 15,092 shares during the period. Finally, NewEdge Advisors LLC grew its stake in NuScale Power by 203.3% during the 2nd quarter. NewEdge Advisors LLC now owns 146,870 shares of the company’s stock worth $1,473,000 after buying an additional 98,440 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and other energy applications. Its proprietary NuScale Power Module is a compact, factory-fabricated pressurized water reactor designed to be deployed individually or in multi-module configurations. The company’s technology is intended to support electric utilities, industrial users, and other customers seeking scalable alternatives for reliable power generation.

NuScale offers its reactor technology through the VOYGR power plant platform, along with engineering, licensing, project development, and deployment support.