NuScale Power (NYSE:SMR) Stock Price Down 6.3% – Here’s What Happened
by Teresa Graham · The Cerbat GemShares of NuScale Power Corporation (NYSE:SMR – Get Free Report) fell 6.3% on Tuesday . The stock traded as low as $18.89 and last traded at $18.9160. 27,292,142 shares were traded during mid-day trading, a decline of 20% from the average session volume of 34,271,422 shares. The stock had previously closed at $20.19.
Analyst Upgrades and Downgrades
SMR has been the topic of a number of research analyst reports. B. Riley decreased their price target on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. UBS Group set a $20.00 price target on NuScale Power in a research note on Tuesday, November 25th. Citigroup reissued a “sell” rating and set a $37.50 price objective (down from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. Finally, Zacks Research upgraded NuScale Power from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.96.
Check Out Our Latest Research Report on SMR
NuScale Power Stock Performance
The firm has a market capitalization of $5.65 billion, a P/E ratio of -6.61 and a beta of 2.12. The business has a fifty day moving average of $19.00 and a 200-day moving average of $32.56.
NuScale Power (NYSE:SMR – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The business had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. During the same period in the previous year, the firm earned ($0.18) EPS. The firm’s revenue was up 1635.2% on a year-over-year basis. On average, equities research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at $1,026,094.11. This trade represents a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Strategic Advocates LLC purchased a new stake in shares of NuScale Power in the third quarter valued at $25,000. CX Institutional acquired a new stake in NuScale Power in the third quarter valued at approximately $25,000. Nemes Rush Group LLC bought a new stake in NuScale Power in the third quarter worth $25,000. Indiana Trust & Investment Management Co bought a new stake in shares of NuScale Power during the 3rd quarter worth about $34,000. Finally, Accredited Wealth Management LLC acquired a new position in NuScale Power during the third quarter valued at approximately $35,000. 78.37% of the stock is owned by institutional investors and hedge funds.
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.