NuScale Power (NYSE:SMR) Shares Down 3% – Here’s Why

NuScale Power Corporation (NYSE:SMR) was down 3% on Wednesday . The company traded as low as $8.07 and last traded at $8.34. 20,439,711 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 30,323,418 shares. The stock had previously closed at $8.60.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. HSBC assumed coverage on NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target for the company. Citigroup reduced their price target on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. Northland Securities set a $19.00 price target on NuScale Power in a research note on Monday, May 11th. Finally, Truist Financial started coverage on NuScale Power in a report on Monday. They issued a “hold” rating and a $10.00 price objective on the stock. One research 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 assigned a Sell rating to the company. According to MarketBeat.com, NuScale Power has a consensus rating of “Hold” and a consensus target price of $15.46.

NuScale Power Stock Performance

The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -2.86 and a beta of 2.24. The firm’s 50 day moving average is $10.87 and its 200-day moving average is $13.03.

NuScale Power (NYSE:SMR) last posted its earnings results 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 return on equity of 48.88% and a negative net margin of 2,066.55%.The business had revenue of $0.56 million for the quarter, compared to analyst estimates of $7.00 million. NuScale Power’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, research analysts predict that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Activity

In other news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in NuScale Power by 35.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company’s stock valued at $11,659,000 after acquiring an additional 213,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NuScale Power by 22.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after purchasing an additional 1,346,796 shares during the last quarter. Swedbank AB lifted its position in shares of NuScale Power by 36.3% during the 1st quarter. Swedbank AB now owns 1,502,300 shares of the company’s stock worth $16,285,000 after purchasing an additional 400,240 shares during the last quarter. Caz Investments LP boosted its stake in NuScale Power by 10,000.0% during the 4th quarter. Caz Investments LP now owns 101,000 shares of the company’s stock valued at $1,431,000 after purchasing an additional 100,000 shares during the period. Finally, Seven Grand Managers LLC bought a new stake in NuScale Power during the 4th quarter valued at approximately $1,771,000. 78.37% of the stock is owned by institutional investors.

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.