NuScale Power (NYSE:SMR) Shares Down 2.2% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price was down 2.2% during mid-day trading on Thursday . The company traded as low as $11.83 and last traded at $12.0020. Approximately 27,279,450 shares were traded during trading, a decline of 9% from the average daily volume of 29,929,447 shares. The stock had previously closed at $12.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SMR shares. HSBC started coverage on NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Citigroup dropped their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research note on Monday, May 11th. UBS Group dropped their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Finally, B. Riley Financial dropped their price objective on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One investment 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.92.

NuScale Power Price Performance

The stock has a market capitalization of $4.39 billion, a P/E ratio of -4.11 and a beta of 2.20. The stock’s 50-day simple moving average is $11.49 and its 200 day simple moving average is $14.89.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The company had revenue of $0.57 million during the quarter, compared to analyst estimates of $7.00 million. The company’s quarterly revenue was down 95.8% compared to the same quarter last year. As a group, analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $12.07, for a total value of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares in the company, valued at $319,088,217.04. The trade was a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 39,936,472 shares of company stock valued at $472,831,169 in the last 90 days. 1.28% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC increased its holdings in shares of NuScale Power by 1.8% in the first quarter. Parallel Advisors LLC now owns 59,898 shares of the company’s stock valued at $649,000 after purchasing an additional 1,053 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of NuScale Power by 109.3% in the first quarter. NewEdge Advisors LLC now owns 48,430 shares of the company’s stock valued at $525,000 after purchasing an additional 25,293 shares during the last quarter. Concorde Asset Management LLC increased its holdings in shares of NuScale Power by 9.8% in the first quarter. Concorde Asset Management LLC now owns 12,390 shares of the company’s stock valued at $134,000 after purchasing an additional 1,110 shares during the last quarter. Verus Capital Partners LLC acquired a new position in shares of NuScale Power in the first quarter valued at $175,000. Finally, BankChampaign National Association acquired a new position in shares of NuScale Power in the first quarter valued at $178,000. 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.