NuScale Power (NYSE:SMR) Sets New 12-Month Low – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $8.49 and last traded at $8.4030, with a volume of 12960131 shares changing hands. The stock had previously closed at $9.04.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SMR. Northland Securities set a $19.00 price objective on NuScale Power in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Bank of America initiated coverage on NuScale Power in a research report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price objective on the stock. UBS Group dropped their price target 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. Finally, HSBC began coverage on shares of NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Down 7.5%

The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -2.87 and a beta of 2.24. The stock’s 50-day simple moving average is $11.02 and its two-hundred day simple moving average is $13.14.

NuScale Power (NYSE:SMR) last released its earnings results 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 company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power’s quarterly revenue was down 95.8% compared to the same quarter last year. On average, sell-side analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Royal Bank of Canada boosted its holdings in shares of NuScale Power by 623.4% during the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after purchasing an additional 394,065 shares during the last quarter. AQR Capital Management LLC lifted its position in NuScale Power by 37.4% during the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock worth $533,000 after buying an additional 10,244 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in NuScale Power during the first quarter worth $390,000. Jones Financial Companies Lllp grew its holdings in NuScale Power by 9.1% in the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after buying an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after buying an additional 1,705,411 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.