NuScale Power (NYSE:SMR) Shares Down 1.1% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price fell 1.1% on Monday . The company traded as low as $8.23 and last traded at $8.5150. 36,911,673 shares were traded during mid-day trading, an increase of 18% from the average session volume of 31,173,303 shares. The stock had previously closed at $8.61.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SMR. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. B. Riley Financial lowered their price objective on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Barclays dropped their price target on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Canaccord Genuity Group reduced their price objective on shares of NuScale Power from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Citigroup cut their target price on NuScale Power from $7.50 to $6.50 and set a “sell” rating on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and a consensus target price of $12.96.

NuScale Power Stock Performance

The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -2.88 and a beta of 2.30. The company has a 50-day moving average price of $9.08 and a 200-day moving average price of $10.54.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The business had revenue of $0.07 million during the quarter, compared to the consensus estimate of $8.80 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. The company’s revenue was down 99.1% compared to the same quarter last year. On average, research analysts expect that NuScale Power Corporation will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Shinji Fujino sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.86, for a total transaction of $177,200.00. Following the transaction, the director directly owned 17,242 shares in the company, valued at $152,764.12. The trade was a 53.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Carl Fisher sold 18,771 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total value of $175,696.56. Following the transaction, the chief operating officer directly owned 114,718 shares in the company, valued at $1,073,760.48. This represents a 14.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 68,651 shares of company stock valued at $633,470 over the last three months. 1.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of SMR. Renaissance Technologies LLC acquired a new position in NuScale Power in the first quarter valued at $59,141,000. Bank of America Corp DE grew its position in NuScale Power by 33.4% in the first quarter. Bank of America Corp DE now owns 2,062,232 shares of the company’s stock valued at $22,355,000 after acquiring an additional 516,097 shares in the last quarter. Swedbank AB lifted its holdings in NuScale Power by 36.3% in the 1st quarter. Swedbank AB now owns 1,502,300 shares of the company’s stock worth $16,285,000 after buying an additional 400,240 shares in the last quarter. Caz Investments LP boosted its holdings 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 purchasing an additional 100,000 shares during the last quarter. Finally, Seven Grand Managers LLC purchased a new position in shares of NuScale Power during the 4th quarter valued at approximately $1,771,000. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Company Profile

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and other energy applications. Its proprietary NuScale Power Module is a compact, factory-fabricated pressurized water reactor designed to be deployed individually or in multi-module configurations. The company’s technology is intended to support electric utilities, industrial users, and other customers seeking scalable alternatives for reliable power generation.

NuScale offers its reactor technology through the VOYGR power plant platform, along with engineering, licensing, project development, and deployment support.