NuScale Power (NYSE:SMR) Trading Down 6.6% – Here’s Why

NuScale Power Corporation (NYSE:SMR)’s stock price dropped 6.6% during mid-day trading on Monday . The stock traded as low as $10.18 and last traded at $10.4850. Approximately 31,657,761 shares were traded during trading, an increase of 9% from the average daily volume of 29,110,998 shares. The stock had previously closed at $11.23.

Wall Street Analyst Weigh In

SMR has been the topic of several recent analyst reports. Texas Capital raised NuScale Power to a “strong-buy” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a research report on Friday, May 8th. Northland Securities set a $19.00 target price on NuScale Power in a research report on Monday, May 11th. Cantor Fitzgerald reduced their target price on NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Finally, Canaccord Genuity Group reduced their target price on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, NuScale Power presently has a consensus rating of “Hold” and an average price target of $19.08.

NuScale Power Price Performance

The business has a fifty day moving average price of $11.47 and a two-hundred day moving average price of $16.54. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -3.56 and a beta of 2.24.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.57 million during the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. NuScale Power’s revenue was down 95.8% compared to the same quarter last year. On average, research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Carl M. Fisher sold 22,197 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $271,247.34. Following the transaction, the chief operating officer directly owned 140,141 shares of the company’s stock, valued at approximately $1,712,523.02. This represents a 13.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clayton Scott sold 22,478 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $12.22, for a total value of $274,681.16. Following the completion of the transaction, the insider directly owned 132,852 shares in the company, valued at $1,623,451.44. This represents a 14.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 40,572,082 shares of company stock valued at $481,029,608. Insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently bought and sold shares of SMR. Nemes Rush Group LLC purchased a new position in shares of NuScale Power in the third quarter valued at approximately $25,000. Strategic Advocates LLC acquired a new position in NuScale Power in the 3rd quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of NuScale Power by 1,550.9% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after buying an additional 1,675 shares during the period. Assetmark Inc. grew its stake in shares of NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after buying an additional 2,309 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in shares of NuScale Power during the 4th quarter worth approximately $30,000. 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.