NuScale Power (NYSE:SMR) Shares Down 7.7% – What’s Next?

by · The Cerbat Gem

NuScale Power Corporation (NYSE:SMRGet Free Report) shares traded down 7.7% during mid-day trading on Friday . The company traded as low as $14.76 and last traded at $14.8450. 24,118,772 shares were traded during mid-day trading, an increase of 58% from the average session volume of 15,306,603 shares. The stock had previously closed at $16.08.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. Canaccord Genuity Group upped their target price on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Cantor Fitzgerald started coverage on shares of NuScale Power in a report on Tuesday, October 21st. They set an “overweight” rating and a $55.00 price target for the company. Wall Street Zen downgraded shares of NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group cut their target price on shares of NuScale Power from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, NuScale Power presently has an average rating of “Reduce” and an average price target of $35.18.

Check Out Our Latest Stock Analysis on NuScale Power

NuScale Power Stock Down 7.7%

The company’s 50-day simple moving average is $25.99 and its 200 day simple moving average is $35.07. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -5.19 and a beta of 2.09.

NuScale Power (NYSE:SMRGet Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The company had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. During the same quarter last year, the company posted ($0.18) EPS. The business’s revenue was up 1635.2% compared to the same quarter last year. On average, equities analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert Ramsey Hamady sold 40,000 shares of NuScale Power stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,026,094.11. The trade was a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Corp Fluor sold 87,900 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total value of $3,479,082.00. The disclosure for this sale is available in the SEC filing. Insiders sold 5,602,897 shares of company stock valued at $219,026,896 over the last 90 days. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SMR. Invesco Ltd. increased its position in NuScale Power by 112.7% during the first quarter. Invesco Ltd. now owns 73,916 shares of the company’s stock worth $1,047,000 after acquiring an additional 39,167 shares during the period. Nuveen LLC acquired a new stake in NuScale Power in the 1st quarter worth $2,961,000. HighTower Advisors LLC increased its holdings in shares of NuScale Power by 137.7% during the 1st quarter. HighTower Advisors LLC now owns 43,457 shares of the company’s stock worth $615,000 after purchasing an additional 25,174 shares during the period. Northern Trust Corp raised its position in shares of NuScale Power by 7.1% during the first quarter. Northern Trust Corp now owns 857,728 shares of the company’s stock valued at $12,145,000 after buying an additional 56,535 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of NuScale Power in the first quarter valued at about $27,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Company Profile

(Get Free Report)

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.

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