NuScale Power (NYSE:SMR) Stock Price Down 3.5% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s share price dropped 3.5% during mid-day trading on Tuesday . The company traded as low as $10.61 and last traded at $10.85. 31,654,200 shares were traded during trading, an increase of 3% from the average session volume of 30,764,600 shares. The stock had previously closed at $11.24.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent analyst reports. Royal Bank Of Canada reduced their price target on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. UBS Group dropped their price objective on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. HSBC assumed coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. Citigroup decreased their price target on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Price Performance

The firm has a market capitalization of $3.63 billion, a P/E ratio of -3.40 and a beta of 2.20. The company’s 50 day moving average price is $11.60 and its 200 day moving average price is $13.89.

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

Insider Activity

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

Institutional Trading of NuScale Power

A number of institutional investors have recently bought and sold shares of the business. Nemes Rush Group LLC bought a new stake in NuScale Power in the third quarter valued at about $25,000. Strategic Advocates LLC bought a new position in NuScale Power during the third quarter worth about $25,000. Vermillion & White Wealth Management Group LLC grew its position in shares of NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after buying an additional 1,675 shares during the period. Assetmark Inc. increased its stake in shares of NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in shares of NuScale Power in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.