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

NuScale Power Corporation (NYSE:SMR)’s stock price traded down 2.4% on Friday . The company traded as low as $11.85 and last traded at $12.1550. 20,072,793 shares were traded during trading, a decline of 30% from the average session volume of 28,572,330 shares. The stock had previously closed at $12.46.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Northland Securities upgraded shares of NuScale Power from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Friday, February 27th. Royal Bank Of Canada lowered their price objective on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Bank of America upgraded shares of NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a research report on Friday, January 9th. TD Cowen lowered shares of NuScale Power from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, B. Riley Financial lowered their price objective on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.77.

NuScale Power Price Performance

The firm has a market cap of $4.11 billion, a P/E ratio of -4.21 and a beta of 2.27. The company’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $19.23.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.70). NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. The firm had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $8.76 million. Analysts anticipate that NuScale Power Corporation will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Carl M. Fisher sold 22,197 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total value of $271,247.34. Following the sale, the chief operating officer owned 140,141 shares of the company’s stock, valued at approximately $1,712,523.02. This represents a 13.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 40,572,082 shares of company stock valued at $481,029,608. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the company. CX Institutional purchased a new stake in shares of NuScale Power in the third quarter valued at $25,000. Nemes Rush Group LLC purchased a new position in NuScale Power in the 3rd quarter worth about $25,000. Strategic Advocates LLC purchased a new position in NuScale Power in the 3rd quarter worth about $25,000. Vermillion & White Wealth Management Group LLC increased its stake in NuScale Power by 1,550.9% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after buying an additional 1,675 shares during the period. Finally, Ameriflex Group Inc. purchased a new position in NuScale Power in the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.