NuScale Power (NYSE:SMR) Trading Down 7.6% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shares were down 7.6% during trading on Thursday . The stock traded as low as $18.13 and last traded at $18.9250. Approximately 28,242,328 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 32,982,102 shares. The stock had previously closed at $20.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SMR shares. Royal Bank Of Canada set a $21.00 price objective on NuScale Power in a research note on Tuesday, January 20th. BNP Paribas Exane lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Bank of America raised shares of NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Friday, January 9th. Zacks Research lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Finally, Cantor Fitzgerald initiated coverage on shares of NuScale Power in a report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.42.

NuScale Power Stock Performance

The firm has a market cap of $5.65 billion, a PE ratio of -6.62 and a beta of 2.12. The stock has a 50 day simple moving average of $18.51 and a two-hundred day simple moving average of $31.78.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The company had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business’s revenue was up 1635.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) earnings per share. Equities research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 40,000 shares of NuScale Power stock in a transaction on Monday, December 8th. The shares were sold at an average price of $22.17, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. The trade was a 46.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently made changes to their positions in the stock. Strategic Advocates LLC acquired a new stake in shares of NuScale Power during the third quarter valued at $25,000. CX Institutional purchased a new stake in shares of NuScale Power during the 3rd quarter worth about $25,000. Nemes Rush Group LLC acquired a new position in shares of NuScale Power during the 3rd quarter valued at $25,000. Indiana Trust & Investment Management Co purchased a new stake in shares of NuScale Power in the third quarter worth about $34,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of NuScale Power during the third quarter valued at approximately $35,000. 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.