NuScale Power (NYSE:SMR) Trading Down 3% – What’s Next?

NuScale Power Corporation (NYSE:SMR) shares traded down 3% during mid-day trading on Wednesday . The stock traded as low as $8.07 and last traded at $8.34. Approximately 20,439,711 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 30,323,418 shares. The stock had previously closed at $8.60.

Analyst Ratings Changes

Several analysts have recently commented on SMR shares. Citigroup reduced 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 report on Monday, May 11th. Northland Securities set a $19.00 target price on shares of NuScale Power in a research report on Monday, May 11th. Truist Financial initiated coverage on shares of NuScale Power in a research note on Monday. They set a “hold” rating and a $10.00 target price on the stock. HSBC initiated coverage on shares of NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.46.

NuScale Power Stock Performance

The business has a fifty day moving average of $10.67 and a 200-day moving average of $12.93. The company has a market capitalization of $2.78 billion, a P/E ratio of -2.60 and a beta of 2.24.

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 business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. The business’s revenue was down 95.8% on a year-over-year basis. Sell-side analysts anticipate that NuScale Power Corporation will post -0.63 EPS for the current year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the business’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 Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after purchasing an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp grew its position in NuScale Power by 117.8% in the 4th 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. Renaissance Technologies LLC bought a new stake in NuScale Power in the 1st quarter worth about $59,141,000. Morgan Stanley increased its stake in NuScale Power by 81.0% in the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after buying an additional 2,361,532 shares during the last quarter. Finally, Samsung C&T Corp increased its stake in NuScale Power by 98.9% in the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after buying an additional 2,578,702 shares during the last quarter. Institutional investors and hedge funds 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.