NuScale Power (NYSE:SMR) Trading Down 4.4% – Here’s Why

NuScale Power Corporation (NYSE:SMR)’s share price traded down 4.4% on Thursday . The stock traded as low as $18.83 and last traded at $18.95. 22,650,673 shares were traded during mid-day trading, a decline of 35% from the average session volume of 34,878,000 shares. The stock had previously closed at $19.83.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SMR. Royal Bank Of Canada lowered their target price on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. BNP Paribas Exane downgraded NuScale Power from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 21st. Zacks Research upgraded shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Barclays assumed coverage on shares of NuScale Power in a research note on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective for the company. Finally, B. Riley decreased their target price on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, NuScale Power currently has an average rating of “Hold” and an average target price of $34.75.

NuScale Power Stock Down 4.4%

The company has a 50 day simple moving average of $19.64 and a 200 day simple moving average of $32.95. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -6.63 and a beta of 2.12.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The company had revenue of $8.24 million during the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. NuScale Power’s revenue for the quarter was up 1635.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) EPS. As a group, 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, CFO Robert Ramsey Hamady sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $22.17, for a total transaction of $886,800.00. Following the sale, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at $1,026,094.11. The trade was a 46.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Wealth Partners LLC lifted its stake in NuScale Power by 39.4% in the 2nd quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock worth $910,000 after purchasing an additional 6,500 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of NuScale Power by 72.3% in the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock worth $3,614,000 after purchasing an additional 38,347 shares during the period. Truist Financial Corp raised its position in shares of NuScale Power by 23.3% in the second quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after buying an additional 9,016 shares in the last quarter. Black Swift Group LLC purchased a new stake in shares of NuScale Power in the second quarter worth $585,000. Finally, Geode Capital Management LLC boosted its stake in NuScale Power by 25.2% during the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after buying an additional 574,295 shares during the period. Institutional investors own 78.37% of the company’s stock.

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.