NuScale Power (NYSE:SMR) Trading Down 4.2% – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) were down 4.2% during trading on Tuesday . The company traded as low as $9.67 and last traded at $10.0440. Approximately 28,479,679 shares were traded during trading, a decline of 2% from the average daily volume of 29,109,133 shares. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SMR shares. Barclays cut their price target 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. Canaccord Genuity Group cut their price target on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Royal Bank Of Canada cut their price target on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research note on Friday, May 8th. Finally, B. Riley Financial cut their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, NuScale Power presently has a consensus rating of “Hold” and an average price target of $19.08.

NuScale Power Price Performance

The company has a market capitalization of $3.67 billion, a P/E ratio of -3.44 and a beta of 2.24. The stock has a 50-day moving average price of $11.50 and a 200-day moving average price of $16.78.

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). 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 $0.57 million for the quarter, compared to the consensus estimate of $7.00 million. The business’s revenue for the quarter was down 95.8% compared to the same quarter last year. Sell-side analysts anticipate that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the completion of the transaction, the director directly owned 26,436,472 shares in the company, valued at $319,088,217.04. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Carl M. Fisher sold 22,197 shares of NuScale Power stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $271,247.34. Following the completion of the sale, the chief operating officer owned 140,141 shares of the company’s stock, valued at approximately $1,712,523.02. The trade was a 13.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,572,082 shares of company stock valued at $481,029,608 over the last ninety days. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after purchasing an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp increased its holdings in NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after purchasing an additional 6,227,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after purchasing an additional 1,346,796 shares in the last quarter. Renaissance Technologies LLC bought a new stake in NuScale Power in the first quarter worth approximately $59,141,000. Finally, Morgan Stanley increased its holdings in NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after purchasing an additional 2,361,532 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

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.