NuScale Power (NYSE:SMR) Shares Down 7.7% – What’s Next?
by Jessica Moore · The Cerbat GemNuScale Power Corporation (NYSE:SMR – Get 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:SMR – Get 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
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.