NuScale Power (NYSE:SMR) Stock Price Down 5.1% – What’s Next?

NuScale Power Corporation (NYSE:SMR) was down 5.1% during trading on Monday . The company traded as low as $17.37 and last traded at $17.4050. Approximately 21,076,053 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 15,117,731 shares. The stock had previously closed at $18.34.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Royal Bank Of Canada cut their price objective on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Bank of America reissued an “underperform” rating and set a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Monday, December 8th. Citigroup reissued a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Finally, Zacks Research lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $36.04.

NuScale Power Stock Performance

The stock has a fifty day simple moving average of $30.86 and a two-hundred day simple moving average of $36.12. The stock has a market cap of $5.20 billion, a PE ratio of -6.09 and a beta of 2.09.

NuScale Power (NYSE:SMR) last released its quarterly earnings results 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). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. During the same period in the previous year, the business posted ($0.18) earnings per share. NuScale Power’s revenue for the quarter was up 1635.2% on a year-over-year basis. On average, equities analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the transaction, the director directly owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 15,040,000 shares of company stock worth $605,749,702 over the last quarter. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Private Wealth Partners LLC increased its holdings in shares of NuScale Power by 39.4% in the second quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock valued at $910,000 after purchasing an additional 6,500 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of NuScale Power by 72.3% during the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock worth $3,614,000 after purchasing an additional 38,347 shares during the period. Truist Financial Corp increased its stake in NuScale Power by 23.3% during the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after acquiring an additional 9,016 shares during the period. Black Swift Group LLC bought a new stake in shares of NuScale Power during the 2nd quarter worth approximately $585,000. Finally, Geode Capital Management LLC lifted its holdings in shares of NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after acquiring an additional 574,295 shares during the period. Institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.