NuScale Power (NYSE:SMR) Trading Down 2.2% – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) traded down 2.2% on Thursday . The stock traded as low as $11.83 and last traded at $12.0020. 27,279,450 shares changed hands during trading, a decline of 9% from the average session volume of 29,929,447 shares. The stock had previously closed at $12.27.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. HSBC assumed coverage on NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective on the stock. Cantor Fitzgerald lowered their price objective on NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. Barclays lowered their price objective on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. Finally, B. Riley Financial decreased their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.92.

NuScale Power Stock Down 2.2%

The stock has a 50 day moving average price of $11.49 and a 200 day moving average price of $14.89. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -4.11 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced 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 net margin of 2,066.55% and a negative return on equity of 48.88%. The firm had revenue of $0.57 million for the quarter, compared to analyst estimates of $7.00 million. NuScale Power’s revenue for the quarter was down 95.8% compared to the same quarter last year. Sell-side analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total value of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at $319,088,217.04. The trade was a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 39,936,472 shares of company stock valued at $472,831,169 over the last quarter. 1.28% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nemes Rush Group LLC bought a new stake in NuScale Power in the third quarter worth approximately $25,000. Strategic Advocates LLC bought a new stake in shares of NuScale Power during the third quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after acquiring an additional 1,675 shares in the last quarter. Assetmark Inc. increased its holdings in shares of NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new stake in shares of NuScale Power during the fourth quarter valued at approximately $30,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.