NuScale Power (NYSE:SMR) Stock Price Down 1.1% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price was down 1.1% during mid-day trading on Tuesday . The stock traded as low as $8.24 and last traded at $8.4140. 34,672,372 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 31,194,791 shares. The stock had previously closed at $8.51.

Analysts Set New Price Targets

A number of research firms recently issued reports on SMR. B. Riley Financial lowered their target price on NuScale Power from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Barclays lowered their price objective on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Canaccord Genuity Group cut their price objective on shares of NuScale Power from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Truist Financial began coverage on shares of NuScale Power in a research note on Monday, July 13th. They issued a “hold” rating and a $10.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of “Hold” and a consensus price target of $12.96.

NuScale Power Price Performance

The stock’s 50-day moving average price is $9.07 and its 200 day moving average price is $10.50. The firm has a market cap of $3.91 billion, a P/E ratio of -3.12 and a beta of 2.30.

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

Insider Activity at NuScale Power

In related news, Director Shinji Fujino sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total transaction of $177,200.00. Following the sale, the director owned 17,242 shares in the company, valued at approximately $152,764.12. This represents a 53.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Carl Fisher sold 18,771 shares of the 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 transaction, the chief operating officer directly owned 114,718 shares of the company’s stock, valued at $1,073,760.48. This trade represents a 14.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 68,651 shares of company stock valued at $633,470. 1.28% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of NuScale Power during the first quarter worth approximately $59,141,000. Bank of America Corp DE increased its stake in NuScale Power by 33.4% during the 1st quarter. Bank of America Corp DE now owns 2,062,232 shares of the company’s stock worth $22,355,000 after acquiring an additional 516,097 shares during the period. Swedbank AB raised its holdings in NuScale Power by 36.3% in the 1st quarter. Swedbank AB now owns 1,502,300 shares of the company’s stock valued at $16,285,000 after acquiring an additional 400,240 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of NuScale Power during the 1st quarter worth $4,336,000. Finally, Corient Private Wealth LP increased its position in shares of NuScale Power by 1,495.8% in the second quarter. Corient Private Wealth LP now owns 338,023 shares of the company’s stock worth $3,390,000 after purchasing an additional 316,841 shares during the period. 78.37% of the stock is owned by institutional investors.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and other energy applications. Its proprietary NuScale Power Module is a compact, factory-fabricated pressurized water reactor designed to be deployed individually or in multi-module configurations. The company’s technology is intended to support electric utilities, industrial users, and other customers seeking scalable alternatives for reliable power generation.

NuScale offers its reactor technology through the VOYGR power plant platform, along with engineering, licensing, project development, and deployment support.