NuScale Power (NYSE:SMR) Shares Down 2.4% – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) fell 2.4% on Tuesday . The stock traded as low as $9.72 and last traded at $10.01. Approximately 23,107,131 shares traded hands during trading, a decline of 25% from the average session volume of 30,738,889 shares. The stock had previously closed at $10.26.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SMR. Northland Securities set a $19.00 price target on shares of NuScale Power in a research note on Monday, May 11th. Royal Bank Of Canada dropped their target price on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Citigroup cut their target price on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. B. Riley Financial decreased their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Finally, The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.92.

NuScale Power Price Performance

The firm has a market cap of $3.66 billion, a PE ratio of -3.43 and a beta of 2.20. The company’s 50 day moving average price is $11.54 and its 200 day moving average price is $13.65.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was down 95.8% on a year-over-year basis. Sell-side analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the sale, the director owned 26,436,472 shares of the company’s stock, valued at approximately $319,088,217.04. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 39,936,472 shares of company stock valued at $472,831,169 in the last three months. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in NuScale Power by 40.5% in 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. Van ECK Associates Corp grew its position in shares of NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after buying an additional 6,227,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of NuScale Power during the first quarter worth approximately $59,141,000. Finally, Morgan Stanley raised its holdings in NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after acquiring an additional 2,361,532 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.