NuScale Power (NYSE:SMR) Trading Down 7.4% After Earnings Miss

Shares of NuScale Power Corporation (NYSE:SMR) were down 7.4% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $12.23 and last traded at $12.5240. Approximately 36,901,480 shares were traded during trading, an increase of 29% from the average daily volume of 28,647,471 shares. The stock had previously closed at $13.52.

The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. The business had revenue of $0.57 million for the quarter, compared to the consensus estimate of $7.00 million.

Analyst Ratings Changes

A number of analysts have recently commented on SMR shares. Royal Bank Of Canada dropped their target price on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Canaccord Genuity Group dropped their target price on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 27th. The Goldman Sachs Group dropped their price target on shares of NuScale Power from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Finally, Bank of America upgraded shares of NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of “Hold” and an average target price of $19.77.

Insiders Place Their Bets

In other NuScale Power news, insider Clayton Scott sold 22,478 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $12.22, for a total value of $274,681.16. Following the completion of the transaction, the insider owned 132,852 shares of the company’s stock, valued at approximately $1,623,451.44. The trade was a 14.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Carl M. Fisher sold 22,197 shares of the business’s 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 completion of the transaction, the chief operating officer directly owned 140,141 shares of the company’s stock, valued at approximately $1,712,523.02. This trade represents a 13.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,572,082 shares of company stock worth $481,029,608 in the last quarter. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pasadena Private Wealth LLC increased its position in shares of NuScale Power by 4.9% during the 3rd quarter. Pasadena Private Wealth LLC now owns 6,147 shares of the company’s stock valued at $221,000 after purchasing an additional 287 shares during the last quarter. Family Capital Management Inc. increased its position in shares of NuScale Power by 3.5% during the 3rd quarter. Family Capital Management Inc. now owns 8,682 shares of the company’s stock valued at $313,000 after purchasing an additional 291 shares during the last quarter. Cibc World Market Inc. increased its position in shares of NuScale Power by 3.8% during the 3rd quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock valued at $324,000 after purchasing an additional 329 shares during the last quarter. MAI Capital Management increased its position in shares of NuScale Power by 37.0% during the 3rd quarter. MAI Capital Management now owns 1,654 shares of the company’s stock valued at $60,000 after purchasing an additional 447 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of NuScale Power by 1.5% during the 3rd quarter. Park Avenue Securities LLC now owns 36,314 shares of the company’s stock valued at $1,307,000 after purchasing an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Stock Performance

The stock has a market cap of $4.23 billion, a PE ratio of -4.33 and a beta of 2.24. The company’s 50-day moving average price is $11.64 and its 200 day moving average price is $18.34.

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.