NuScale Power (NYSE:SMR) Stock Price Down 4.8% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) dropped 4.8% during trading on Friday . The stock traded as low as $9.20 and last traded at $9.3810. Approximately 35,561,394 shares changed hands during trading, an increase of 17% from the average daily volume of 30,437,824 shares. The stock had previously closed at $9.85.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SMR. 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 price target on the stock. Royal Bank Of Canada decreased their price objective on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday. Northland Securities set a $16.00 price objective on shares of NuScale Power in a research report on Thursday, August 6th. The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a research note on Friday, May 8th. Finally, B. Riley Financial reduced their target price on shares of NuScale Power from $19.00 to $15.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.50.

NuScale Power Stock Performance

The company has a fifty day moving average of $9.45 and a two-hundred day moving average of $11.58. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -3.21 and a beta of 2.26.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The company’s revenue for the quarter was down 99.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. Equities analysts forecast that NuScale Power Corporation will post -0.43 EPS for the current year.

Insider Activity at NuScale Power

In related news, COO Carl M. Fisher sold 18,771 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total transaction of $175,696.56. Following the transaction, the chief operating officer directly owned 114,718 shares of the company’s stock, valued at approximately $1,073,760.48. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC raised its position in shares of NuScale Power by 1,550.9% in 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 in the last quarter. Assetmark Inc. raised its holdings in NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 2,309 shares in the last quarter. Ameriflex Group Inc. bought a new stake in shares of NuScale Power during the 4th quarter valued at $30,000. Strategic Advocates LLC lifted its position in shares of NuScale Power by 233.0% during the 4th quarter. Strategic Advocates LLC now owns 2,321 shares of the company’s stock valued at $33,000 after acquiring an additional 1,624 shares during the period. Finally, Harbour Investments Inc. grew its holdings in shares of NuScale Power by 32.4% during the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after purchasing an additional 592 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

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.