NuScale Power (NYSE:SMR) Stock Price Down 1.9% – Here’s Why

NuScale Power Corporation (NYSE:SMR) traded down 1.9% during mid-day trading on Wednesday . The company traded as low as $8.55 and last traded at $8.7870. 17,877,136 shares changed hands during trading, a decline of 41% from the average session volume of 30,492,867 shares. The stock had previously closed at $8.96.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SMR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Bank of America assumed coverage on NuScale Power in a report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price objective on the stock. B. Riley Financial cut their target price on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Citigroup reduced their target price on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th. Finally, The Goldman Sachs Group set a $9.00 price target on shares of NuScale Power in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, NuScale Power currently has a consensus rating of “Hold” and a consensus price target of $15.92.

NuScale Power Stock Up 0.5%

The company has a 50 day simple moving average of $11.07 and a 200-day simple moving average of $13.19. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -3.11 and a beta of 2.24.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $0.56 million during the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company’s revenue for the quarter was down 95.8% on a year-over-year basis. On average, equities research analysts expect that NuScale Power Corporation will post -0.46 EPS 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SMR. Harbour Investments Inc. lifted its holdings in NuScale Power by 32.4% in the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after purchasing an additional 592 shares during the period. Strategic Advocates LLC acquired a new position in NuScale Power during the 3rd quarter valued at about $25,000. Nemes Rush Group LLC bought a new stake in shares of NuScale Power during the 3rd quarter worth about $25,000. Balboa Wealth Partners lifted its stake in shares of NuScale Power by 5.9% in the 4th quarter. Balboa Wealth Partners now owns 13,465 shares of the company’s stock worth $191,000 after acquiring an additional 756 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of NuScale Power by 7.8% in the 3rd quarter. Allworth Financial LP now owns 10,492 shares of the company’s stock worth $378,000 after acquiring an additional 758 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

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.