NuScale Power (NYSE:SMR) Stock Price Down 2.4% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price dropped 2.4% during mid-day trading on Friday . The company traded as low as $11.85 and last traded at $12.1550. Approximately 20,072,793 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 28,572,330 shares. The stock had previously closed at $12.46.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of recent analyst reports. Cantor Fitzgerald dropped their price objective on NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. TD Cowen downgraded NuScale Power from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. UBS Group dropped their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Barclays dropped their price objective on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. Finally, Texas Capital raised NuScale Power to a “strong-buy” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power has a consensus rating of “Hold” and a consensus price target of $19.77.

NuScale Power Trading Down 2.4%

The company has a market cap of $4.11 billion, a P/E ratio of -4.21 and a beta of 2.24. The stock’s 50-day moving average price is $11.66 and its 200-day moving average price is $19.05.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.70). The company had revenue of $1.81 million for the quarter, compared to the consensus estimate of $8.76 million. NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%. On average, research analysts anticipate that NuScale Power Corporation will post -0.44 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, COO Carl M. Fisher sold 22,197 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $271,247.34. Following the transaction, the chief operating officer owned 140,141 shares of the company’s stock, valued at $1,712,523.02. This represents a 13.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jose N. Reyes, Jr. sold 25,951 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $12.22, for a total transaction of $317,121.22. Following the transaction, the chief technology officer directly owned 268,081 shares in the company, valued at $3,275,949.82. This trade represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 40,572,082 shares of company stock worth $481,029,608. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently added to or reduced their stakes in the business. Strategic Advocates LLC bought a new position in NuScale Power in the 3rd quarter valued at about $25,000. CX Institutional bought a new position in NuScale Power in the 3rd quarter valued at about $25,000. Nemes Rush Group LLC bought a new position in NuScale Power in the 3rd quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in NuScale Power in the 3rd quarter valued at about $35,000. Finally, Triumph Capital Management bought a new position in NuScale Power in the 3rd quarter valued at about $37,000. 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.