NuScale Power (NYSE:SMR) Stock Price Down 9.1% – Here’s Why

NuScale Power Corporation (NYSE:SMR)’s stock price fell 9.1% during mid-day trading on Thursday . The stock traded as low as $7.52 and last traded at $7.6010. Approximately 28,786,961 shares traded hands during trading, a decline of 5% from the average daily volume of 30,312,762 shares. The stock had previously closed at $8.36.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group cut their target price 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. Truist Financial assumed coverage on NuScale Power in a research note on Monday. They set a “hold” rating and a $10.00 price target for the company. Citigroup dropped their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research report on Friday, May 8th. Finally, Bank of America started coverage on NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.46.

NuScale Power Stock Performance

The company has a market cap of $2.78 billion, a P/E ratio of -2.60 and a beta of 2.24. The business’s fifty day moving average is $10.77 and its two-hundred day moving average is $12.98.

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

Insider Activity

In related news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently bought and sold shares of SMR. Strategic Advocates LLC purchased a new stake in shares of NuScale Power in the 3rd quarter worth $25,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $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% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after buying an additional 2,309 shares during the period. Ameriflex Group Inc. purchased a new position in shares of NuScale Power during the fourth quarter valued at $30,000. Finally, Harbour Investments Inc. raised its holdings in shares of NuScale Power by 32.4% in the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock valued at $34,000 after acquiring an additional 592 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

About NuScale Power

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.