NuScale Power (NYSE:SMR) Stock Price Down 3.9% – Here’s Why

NuScale Power Corporation (NYSE:SMR) shares dropped 3.9% during trading on Tuesday . The stock traded as low as $7.80 and last traded at $8.21. 26,977,695 shares traded hands during trading, a decline of 11% from the average session volume of 30,397,779 shares. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. B. Riley Financial cut their price target on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Citigroup reiterated a “sell” rating on shares of NuScale Power in a report on Wednesday, July 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. Barclays cut their target price on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. Finally, HSBC began coverage on NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, NuScale Power currently has a consensus rating of “Hold” and an average target price of $15.15.

NuScale Power Price Performance

The company has a market cap of $3.00 billion, a price-to-earnings ratio of -2.81 and a beta of 2.24. The firm has a fifty day simple moving average of $10.17 and a 200 day simple moving average of $12.55.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.56 million during the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The business’s revenue for the quarter was down 95.8% compared to the same quarter last year. Analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently bought and sold shares of SMR. Heck Capital Advisors LLC grew its position in shares of NuScale Power by 33.5% in the second quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock valued at $164,000 after purchasing an additional 4,115 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of NuScale Power by 209.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock worth $1,083,000 after purchasing an additional 73,100 shares during the last quarter. Adamsbrown Wealth Consultants LLC acquired a new position in shares of NuScale Power during the 2nd quarter worth about $100,000. Hennion & Walsh Asset Management Inc. boosted its stake in NuScale Power by 30.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock valued at $845,000 after purchasing an additional 19,679 shares during the period. Finally, Evanson Financial LLC bought a new stake in NuScale Power during the 2nd quarter valued at approximately $512,000. 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.