NuScale Power (NYSE:SMR) Stock Price Down 13.5% – Here’s Why

by · The Cerbat Gem

NuScale Power Corporation (NYSE:SMR – Get Free Report) shares fell 13.5% on Friday . The stock traded as low as $18.33 and last traded at $18.3650. 28,304,006 shares traded hands during mid-day trading, an increase of 88% from the average session volume of 15,077,994 shares. The stock had previously closed at $21.22.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SMR shares. Citigroup restated a “sell” rating and issued a $37.50 price objective (down from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. BNP Paribas Exane lowered NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 21st. Canaccord Genuity Group raised their target price on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Royal Bank Of Canada decreased their price target on shares of NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Finally, Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $36.04.

Get Our Latest Stock Analysis on NuScale Power

NuScale Power Stock Performance

The stock has a market capitalization of $5.48 billion, a P/E ratio of -6.42 and a beta of 2.09. The stock has a 50-day simple moving average of $31.30 and a 200 day simple moving average of $36.19.

NuScale Power (NYSE:SMR – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The business had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The company’s quarterly revenue was up 1635.2% on a year-over-year basis. During the same period last year, the firm earned ($0.18) earnings per share. Equities analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,026,094.11. This trade represents 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 the SEC website. Also, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The SEC filing for this sale provides additional information. Insiders sold 15,040,000 shares of company stock valued at $605,749,702 in the last ninety days. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SMR. CX Institutional acquired a new stake in shares of NuScale Power during the third quarter worth $25,000. Nemes Rush Group LLC bought a new position in NuScale Power during the 3rd quarter worth about $25,000. Strategic Advocates LLC acquired a new stake in shares of NuScale Power in the 3rd quarter valued at about $25,000. Quantbot Technologies LP acquired a new stake in shares of NuScale Power in the 1st quarter valued at about $27,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after purchasing an additional 359 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

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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