NuScale Power (NYSE:SMR) Reaches New 52-Week Low – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMR) reached a new 52-week low during trading on Monday . The company traded as low as $8.49 and last traded at $8.4030, with a volume of 12960131 shares traded. The stock had previously closed at $9.04.

Wall Street Analysts Forecast Growth

SMR has been the topic of several research analyst reports. Citigroup dropped their price objective on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. HSBC initiated coverage on shares of NuScale Power in a report on Thursday, April 23rd. They set a “hold” rating and a $13.00 target price for the company. Northland Securities set a $19.00 price target on shares of NuScale Power in a report on Monday, May 11th. UBS Group cut their price objective on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, Truist Financial began coverage on NuScale Power in a report on Monday. They set a “hold” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.46.

NuScale Power Price Performance

The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -2.95 and a beta of 2.24. The business’s 50-day moving average price is $10.87 and its two-hundred day moving average price is $13.03.

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

Insider Transactions at NuScale Power

In other 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 value of $159,435,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Heck Capital Advisors LLC increased its holdings in NuScale Power by 33.5% in the 2nd quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock worth $164,000 after acquiring an additional 4,115 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of NuScale Power by 209.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock valued at $1,083,000 after purchasing an additional 73,100 shares in the last quarter. Adamsbrown Wealth Consultants LLC bought a new position in NuScale Power in the 2nd quarter worth about $100,000. Hennion & Walsh Asset Management Inc. lifted its position in NuScale Power by 30.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock valued at $845,000 after purchasing an additional 19,679 shares during the last quarter. Finally, Evanson Financial LLC bought a new position in NuScale Power in the second quarter valued at $512,000. 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.