NuScale Power (NYSE:SMR) Stock Price Down 12.5% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s stock price traded down 12.5% during trading on Tuesday . The company traded as low as $35.62 and last traded at $35.7130. 16,951,193 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 13,854,207 shares. The stock had previously closed at $40.83.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BNP Paribas downgraded shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada assumed coverage on shares of NuScale Power in a research report on Monday, September 15th. They issued a “sector perform” rating and a $35.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of NuScale Power in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NuScale Power in a research report on Wednesday, October 8th. Finally, Citigroup reaffirmed a “sell” rating and issued a $37.50 target price (down previously from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $37.73.

NuScale Power Trading Down 12.5%

The company’s 50 day moving average price is $39.36 and its two-hundred day moving average price is $35.68. The firm has a market cap of $10.17 billion, a PE ratio of -30.01 and a beta of 2.03.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $8.05 million for the quarter, compared to analysts’ expectations of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. Equities research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director owned 10,085,344 shares in the company, valued at $443,654,282.56. This trade represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 15,030,641 shares of company stock worth $605,953,415. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. CX Institutional purchased a new position in shares of NuScale Power during the 3rd quarter valued at $25,000. Quantbot Technologies LP purchased a new position in shares of NuScale Power during the 1st quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after buying an additional 359 shares in the last quarter. Indiana Trust & Investment Management Co purchased a new position in shares of NuScale Power during the 3rd quarter valued at $34,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of NuScale Power during the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.