NuScale Power (NYSE:SMR) Trading Down 7.1% – What’s Next?

NuScale Power Corporation (NYSE:SMR) shares were down 7.1% on Tuesday . The stock traded as low as $9.59 and last traded at $9.9910. Approximately 38,766,500 shares traded hands during trading, an increase of 29% from the average daily volume of 30,167,480 shares. The stock had previously closed at $10.76.

Wall Street Analyst Weigh In

SMR has been the subject of several analyst reports. Barclays decreased their target price on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. HSBC initiated coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price for the company. Zacks Research raised shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Cantor Fitzgerald decreased their target price on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Finally, Canaccord Genuity Group decreased their target price on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Price Performance

The stock’s 50-day simple moving average is $11.48 and its 200 day simple moving average is $14.66. The stock has a market capitalization of $3.65 billion, a P/E ratio of -3.42 and a beta of 2.20.

NuScale Power (NYSE:SMR) last released its quarterly earnings data 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 $0.57 million for the quarter, compared to the consensus estimate of $7.00 million. The firm’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the completion of the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at $319,088,217.04. The trade was a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 39,936,472 shares of company stock worth $472,831,169 over the last three months. Insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Nemes Rush Group LLC bought a new position in NuScale Power during the third quarter worth $25,000. Strategic Advocates LLC bought a new position in NuScale Power during the third quarter worth $25,000. Vermillion & White Wealth Management Group LLC boosted its position in NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after purchasing an additional 1,675 shares during the period. Assetmark Inc. boosted its position in NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after purchasing an additional 2,309 shares during the period. Finally, Ameriflex Group Inc. bought a new position in NuScale Power during the fourth quarter worth $30,000. 78.37% of the stock is owned by institutional investors.

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.