NuScale Power (NYSE:SMR) Stock Price Down 5.5% – Here’s Why

NuScale Power Corporation (NYSE:SMR) traded down 5.5% on Wednesday . The company traded as low as $9.06 and last traded at $9.27. 51,376,299 shares changed hands during mid-day trading, an increase of 66% from the average session volume of 30,881,518 shares. The stock had previously closed at $9.81.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SMR shares. Barclays dropped their price objective on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a report on Friday, May 8th. B. Riley Financial dropped their target price on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Northland Securities set a $16.00 price target on NuScale Power in a report on Thursday, August 6th. Finally, Royal Bank Of Canada cut their target price on NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, NuScale Power presently has an average rating of “Hold” and an average price target of $13.50.

NuScale Power Stock Performance

The stock has a 50 day moving average of $9.25 and a 200 day moving average of $10.99. The stock has a market capitalization of $4.19 billion, a P/E ratio of -3.34 and a beta of 2.26.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $8.80 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The company’s revenue for the quarter was down 99.1% compared to the same quarter last year. On average, research analysts anticipate that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Shinji Fujino sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.86, for a total value of $177,200.00. Following the sale, the director owned 17,242 shares in the company, valued at approximately $152,764.12. This trade represents a 53.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Carl M. Fisher sold 18,771 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares in the company, valued at approximately $1,073,760.48. This trade represents a 14.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of NuScale Power by 623.4% in the first quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after purchasing an additional 394,065 shares in the last quarter. AQR Capital Management LLC raised its position in shares of NuScale Power by 37.4% during the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock worth $533,000 after buying an additional 10,244 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of NuScale Power in the 1st quarter worth approximately $390,000. Jones Financial Companies Lllp increased its stake in shares of NuScale Power by 9.1% during the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after acquiring an additional 1,394 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. Institutional investors 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.