NuScale Power (NYSE:SMR) Stock Price Down 2.4% – Here’s Why

Shares of NuScale Power Corporation (NYSE:SMR) fell 2.4% during trading 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SMR. Bank of America began coverage on shares of NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target for the company. Citigroup dropped their price objective on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a report on Monday, May 11th. HSBC started coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective on the stock. UBS Group lowered their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Performance

The stock has a market cap of $3.56 billion, a price-to-earnings ratio of -3.35 and a beta of 2.24. The business has a 50-day simple moving average of $11.44 and a two-hundred day simple 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 business had revenue of $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. NuScale Power’s revenue was down 95.8% compared to the same quarter last year. On average, analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 39,936,472 shares of company stock worth $472,831,169. Insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after purchasing an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp increased its holdings in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 last quarter. Renaissance Technologies LLC bought a new stake in NuScale Power during the first quarter worth $59,141,000. Finally, Morgan Stanley raised its position in NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after acquiring an additional 2,361,532 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

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.