NuScale Power (NYSE:SMR) Trading Down 1.8% – What’s Next?

NuScale Power Corporation (NYSE:SMR) shares were down 1.8% during mid-day trading on Tuesday . The company traded as low as $16.61 and last traded at $17.1040. Approximately 20,303,275 shares were traded during trading, an increase of 34% from the average daily volume of 15,142,817 shares. The stock had previously closed at $17.41.

Analyst Ratings Changes

A number of research analysts have commented on the company. Canaccord Genuity Group boosted their target price on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Barclays assumed coverage on NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research report on Monday. Wall Street Zen cut shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, BNP Paribas Exane downgraded shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. Three 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. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $36.04.

NuScale Power Trading Up 0.4%

The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -5.52 and a beta of 2.09. The company has a fifty day moving average of $28.99 and a two-hundred day moving average of $35.62.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate 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 company had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. During the same quarter last year, the business earned ($0.18) EPS. The company’s revenue for the quarter was up 1635.2% on a year-over-year basis. As a group, sell-side analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director directly owned 10,085,344 shares in the company, valued at $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 12,497,907 shares of company stock valued at $509,741,373. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in NuScale Power by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock valued at $126,598,000 after buying an additional 512,618 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after acquiring an additional 1,346,796 shares during the period. Van ECK Associates Corp boosted its position in shares of NuScale Power by 67.2% in the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock valued at $190,362,000 after acquiring an additional 2,125,250 shares during the period. Samsung C&T Corp grew its stake in shares of NuScale Power by 98.9% in the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after acquiring an additional 2,578,702 shares during the last quarter. Finally, Clear Street Group Inc. bought a new position in NuScale Power during the third quarter worth $155,616,000. Institutional investors and hedge funds 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.