NuScale Power (NYSE:SMR) Stock Price Down 3.5% – Here’s Why

NuScale Power Corporation (NYSE:SMR)’s share price fell 3.5% during mid-day trading on Tuesday . The stock traded as low as $10.61 and last traded at $10.85. Approximately 31,654,200 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 30,764,600 shares. The stock had previously closed at $11.24.

Analyst Ratings Changes

A number of analysts have weighed in on SMR shares. UBS Group reduced their price target on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. B. Riley Financial cut 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 report on Friday, April 24th. HSBC initiated coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Finally, Royal Bank Of Canada decreased their price objective on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, NuScale Power has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Price Performance

The firm has a market cap of $3.97 billion, a P/E ratio of -3.72 and a beta of 2.20. The stock’s 50 day moving average is $11.56 and its two-hundred day moving average is $14.05.

NuScale Power (NYSE:SMR) last announced its quarterly 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). 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 the consensus estimate of $7.00 million. The business’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 39,936,472 shares of company stock valued at $472,831,169. 1.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Van ECK Associates Corp raised its stake in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after acquiring an additional 6,227,747 shares during the last quarter. Renaissance Technologies LLC bought a new stake in NuScale Power during the 1st quarter worth approximately $59,141,000. Vanguard Group Inc. increased its holdings in NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after purchasing an additional 4,482,254 shares in the last quarter. Clear Street Group Inc. bought a new position in NuScale Power in the 3rd quarter valued at $155,616,000. Finally, Voloridge Investment Management LLC bought a new position in NuScale Power in the 4th quarter valued at $48,993,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.