NuScale Power (NYSE:SMR) Trading Down 4% – Here’s Why

Shares of NuScale Power Corporation (NYSE:SMR) fell 4% during mid-day trading on Thursday . The company traded as low as $9.60 and last traded at $9.7450. Approximately 27,875,170 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 30,657,188 shares. The stock had previously closed at $10.15.

Wall Street Analysts Forecast Growth

SMR has been the subject of several analyst reports. Citigroup decreased their price objective on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Northland Securities set a $19.00 target price on NuScale Power in a report on Monday, May 11th. HSBC initiated coverage on NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target for the company. Finally, Bank of America started coverage on NuScale Power in a report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.92.

NuScale Power Stock Down 0.2%

The firm has a market cap of $3.56 billion, a P/E ratio of -3.34 and a beta of 2.24. The firm’s 50-day simple moving average is $11.32 and its 200 day simple moving average is $13.42.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) 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 during the quarter, compared to the consensus estimate of $7.00 million. The firm’s revenue was down 95.8% on a year-over-year basis. As a group, analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Activity

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 39,936,472 shares of company stock valued at $472,831,169 in the last 90 days. Insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Strategic Advocates LLC bought a new stake in shares of NuScale Power during the third quarter valued at about $25,000. Nemes Rush Group LLC bought a new position in shares of NuScale Power in the third quarter valued at approximately $25,000. Triumph Capital Management bought a new position in shares of NuScale Power in the third quarter valued at approximately $37,000. MAI Capital Management grew its stake in NuScale Power by 37.0% during the third quarter. MAI Capital Management now owns 1,654 shares of the company’s stock valued at $60,000 after acquiring an additional 447 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in NuScale Power by 187.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company’s stock valued at $67,000 after acquiring an additional 1,105 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.