NuScale Power (NYSE:SMR) Shares Down 4% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) fell 4% on Thursday . The stock traded as low as $9.60 and last traded at $9.7450. Approximately 27,875,170 shares traded hands during trading, a decline of 9% from the average daily volume of 30,657,188 shares. The stock had previously closed at $10.15.

Analysts Set New Price Targets

SMR has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a report on Friday, May 8th. Bank of America assumed coverage on NuScale Power in a report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. Northland Securities set a $19.00 price objective on shares of NuScale Power in a research note on Monday, May 11th. Finally, UBS Group dropped their target price on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Price Performance

The stock has a market capitalization of $3.56 billion, a P/E ratio of -3.34 and a beta of 2.24. The firm has a 50 day moving average of $11.44 and a 200-day moving average of $13.50.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data 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 firm had revenue of $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. The company’s quarterly revenue was down 95.8% on a year-over-year basis. As a group, equities analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total value of $162,945,000.00. Following the completion of the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at $319,088,217.04. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 39,936,472 shares of company stock valued at $472,831,169 in the last three months. Corporate insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently made changes to their positions in SMR. Nemes Rush Group LLC acquired a new stake in NuScale Power in the 3rd quarter valued at $25,000. Strategic Advocates LLC acquired a new position in NuScale Power during the third quarter worth $25,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after acquiring an additional 1,675 shares during the period. Assetmark Inc. lifted its holdings in shares of NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 2,309 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in shares of NuScale Power in the 4th quarter valued at $30,000. 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.