NuScale Power (NYSE:SMR) Stock Price Down 9.9% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s share price fell 9.9% on Wednesday . The company traded as low as $12.36 and last traded at $12.57. 14,479,686 shares were traded during trading, a decline of 51% from the average session volume of 29,507,969 shares. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

Several research analysts have commented on SMR shares. TD Cowen lowered NuScale Power from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Bank of America initiated coverage on NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price for the company. Barclays reduced their price target on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. Royal Bank Of Canada decreased their price target on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Finally, Zacks Research raised shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Trading Down 12.1%

The stock has a market capitalization of $4.48 billion, a P/E ratio of -4.20 and a beta of 2.20. The stock’s 50 day simple moving average is $11.43 and its 200 day simple moving average is $15.05.

NuScale Power (NYSE:SMR) last released 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). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company had revenue of $0.57 million during the quarter, compared to the consensus estimate of $7.00 million. NuScale Power’s quarterly revenue was down 95.8% on a year-over-year basis. On average, sell-side analysts expect that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 39,936,472 shares of company stock worth $472,831,169 in the last 90 days. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH bought a new stake in shares of NuScale Power during the 3rd quarter valued at about $14,347,000. Mirae Asset Global Investments Co. Ltd. raised its stake in NuScale Power by 35.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company’s stock worth $11,659,000 after acquiring an additional 213,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NuScale Power by 22.6% in 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 acquiring an additional 1,346,796 shares during the last quarter. Caz Investments LP boosted its stake in NuScale Power by 10,000.0% in the fourth quarter. Caz Investments LP now owns 101,000 shares of the company’s stock valued at $1,431,000 after acquiring an additional 100,000 shares during the period. Finally, Clear Street Group Inc. bought a new position in shares of NuScale Power during the third quarter valued at approximately $155,616,000. 78.37% of the stock is currently 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.