NuScale Power (NYSE:SMR) Stock Price Down 7.1% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price traded down 7.1% during trading on Wednesday . The stock traded as low as $9.27 and last traded at $9.2950. 27,209,213 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 30,145,045 shares. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank Of Canada dropped their price objective on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Barclays dropped their price objective on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. TD Cowen downgraded shares of NuScale Power from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Cantor Fitzgerald dropped their price objective on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Finally, B. Riley Financial dropped their price objective on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Trading Down 7.1%

The company’s 50-day simple moving average is $11.47 and its 200-day simple moving average is $14.58. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -3.18 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results 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 net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.57 million during the quarter, compared to analyst estimates of $7.00 million. The business’s quarterly revenue was down 95.8% on a year-over-year basis. On average, equities research analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 39,936,472 shares of company stock worth $472,831,169 in the last ninety days. Corporate insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

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