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

NuScale Power Corporation (NYSE:SMR)’s stock price dropped 1.9% during trading on Monday . The stock traded as low as $9.13 and last traded at $9.21. 23,311,249 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 30,418,180 shares. The stock had previously closed at $9.39.

Wall Street Analyst Weigh In

SMR has been the topic of several research analyst reports. Northland Securities set a $16.00 price objective on shares of NuScale Power in a research report on Thursday, August 6th. HSBC initiated coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price for the company. Bank of America assumed coverage on NuScale Power in a research report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price for the company. Truist Financial started coverage on NuScale Power in a report on Monday, July 13th. They set a “hold” rating and a $10.00 price target on the stock. Finally, The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, NuScale Power presently has a consensus rating of “Hold” and a consensus price target of $13.50.

NuScale Power Stock Down 1.9%

The business has a 50-day simple moving average of $9.43 and a 200-day simple moving average of $11.52. The stock has a market cap of $3.96 billion, a P/E ratio of -3.15 and a beta of 2.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was down 99.1% compared to the same quarter last year. On average, analysts predict that NuScale Power Corporation will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Carl M. Fisher sold 18,771 shares of NuScale Power stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the transaction, the chief operating officer owned 114,718 shares in the company, valued at $1,073,760.48. This trade represents a 14.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Royal Bank of Canada lifted its position 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 increased its position in NuScale Power by 37.4% in the 1st 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 during the period. Integrated Wealth Concepts LLC acquired a new position in shares of NuScale Power during the first quarter worth approximately $390,000. Jones Financial Companies Lllp boosted its position in shares of NuScale Power by 9.1% in the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after acquiring an additional 1,394 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of NuScale Power by 1,220.7% in the first 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 acquiring an additional 1,705,411 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

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.