NuScale Power (NYSE:SMR) Trading Down 3.9% – Here’s What Happened

by · The Cerbat Gem

NuScale Power Co. (NYSE:SMR – Get Free Report)’s share price was down 3.9% on Tuesday . The company traded as low as $13.31 and last traded at $13.39. Approximately 2,627,870 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 5,039,419 shares. The stock had previously closed at $13.94.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SMR. CLSA started coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. B. Riley boosted their price target on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.39.

Check Out Our Latest Research Report on SMR

NuScale Power Trading Down 5.5 %

The stock has a market capitalization of $4.49 billion, a PE ratio of -17.78 and a beta of 1.25. The company’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $9.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66.

NuScale Power (NYSE:SMR – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. During the same period last year, the business earned ($0.13) earnings per share.

Insider Buying and Selling at NuScale Power

In other news, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Robert K. Temple sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the sale, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,729 shares of company stock worth $4,178,595 in the last three months. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Avantax Advisory Services Inc. purchased a new position in shares of NuScale Power during the first quarter worth $58,000. CWM LLC grew its position in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after acquiring an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power in the 2nd quarter valued at about $64,000. TFC Financial Management Inc. purchased a new stake in NuScale Power during the second quarter worth about $75,000. Finally, Resurgent Financial Advisors LLC lifted its position in shares of NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after purchasing an additional 7,400 shares in the last quarter. 15.28% of the stock is owned by institutional investors and hedge funds.

NuScale Power Company Profile

(Get Free Report)

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.

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