NuScale Power (NYSE:SMR) Shares Down 6.7% – What’s Next?

NuScale Power Corporation (NYSE:SMR) traded down 6.7% on Tuesday . The stock traded as low as $8.64 and last traded at $8.9650. Approximately 29,774,409 shares were traded during trading, a decline of 3% from the average session volume of 30,568,563 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SMR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research note on Friday, May 8th. HSBC initiated coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. B. Riley Financial cut their target price on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, UBS Group reduced their price target on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, NuScale Power currently has an average rating of “Hold” and a consensus price target of $15.92.

NuScale Power Stock Performance

The company has a market cap of $3.28 billion, a price-to-earnings ratio of -3.07 and a beta of 2.24. The firm’s 50-day moving average price is $11.26 and its 200 day moving average price is $13.34.

NuScale Power (NYSE:SMR) last announced 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). The business had revenue of $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm’s revenue was down 95.8% compared to the same quarter last year. As a group, equities research analysts predict that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power 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 transaction, the director owned 26,436,472 shares in the company, valued at approximately $319,088,217.04. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last quarter. Corporate insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

A number of hedge funds have recently modified their holdings of the company. Nemes Rush Group LLC acquired a new position in NuScale Power during the third quarter valued at approximately $25,000. Strategic Advocates LLC acquired a new position in shares of NuScale Power in the 3rd quarter valued at $25,000. Vermillion & White Wealth Management Group LLC raised its stake in NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after buying an additional 1,675 shares during the period. Assetmark Inc. lifted its holdings in NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new position in NuScale Power during the fourth quarter worth about $30,000. 78.37% of the stock is currently 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.