NuScale Power (NYSE:SMR) Shares Gap Down – What’s Next?
by Doug Wharley · The Cerbat GemNuScale Power Corporation (NYSE:SMR – Get Free Report)’s share price gapped down prior to trading on Friday . The stock had previously closed at $10.21, but opened at $9.66. NuScale Power shares last traded at $9.41, with a volume of 11,249,485 shares changing hands.
Analyst Ratings Changes
Several analysts have commented on the company. Royal Bank Of Canada lowered their price target on NuScale Power from $14.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, August 11th. Northland Securities set a $16.00 price objective on shares of NuScale Power in a report on Thursday, August 6th. Bank of America started coverage on shares of NuScale Power in a research report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price on the stock. Truist Financial began coverage on shares of NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 target price for the company. Finally, Citigroup dropped their price target on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power has a consensus rating of “Hold” and a consensus price target of $12.96.
View Our Latest Stock Report on NuScale Power
NuScale Power Stock Down 12.4%
The firm’s 50 day simple moving average is $9.14 and its 200-day simple moving average is $10.63. The company has a market capitalization of $3.85 billion, a PE ratio of -3.05 and a beta of 2.30.
NuScale Power (NYSE:SMR – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. During the same quarter last year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was down 99.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.
Insider Buying and Selling at NuScale Power
In other NuScale Power news, COO Carl Fisher sold 18,771 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the transaction, the chief operating officer owned 114,718 shares in the company, valued at $1,073,760.48. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shinji Fujino sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total value of $177,200.00. Following the transaction, the director owned 17,242 shares in the company, valued at approximately $152,764.12. This represents a 53.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,651 shares of company stock valued at $633,470 over the last three months. 1.28% of the stock is owned by company insiders.
Institutional Investors Weigh In On NuScale Power
Several hedge funds have recently modified their holdings of SMR. Sequoia Financial Advisors LLC purchased a new position in NuScale Power in the 2nd quarter worth approximately $126,000. WINTON GROUP Ltd purchased a new stake in shares of NuScale Power during the second quarter valued at approximately $392,000. Integrated Wealth Concepts LLC raised its stake in shares of NuScale Power by 153.6% during the second quarter. Integrated Wealth Concepts LLC now owns 65,623 shares of the company’s stock valued at $658,000 after purchasing an additional 39,751 shares during the period. RFG Advisory LLC lifted its position in shares of NuScale Power by 33.1% during the second quarter. RFG Advisory LLC now owns 60,622 shares of the company’s stock worth $608,000 after purchasing an additional 15,092 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of NuScale Power by 203.3% during the second quarter. NewEdge Advisors LLC now owns 146,870 shares of the company’s stock worth $1,473,000 after purchasing an additional 98,440 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.
NuScale Power Company Profile
NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and other energy applications. Its proprietary NuScale Power Module is a compact, factory-fabricated pressurized water reactor designed to be deployed individually or in multi-module configurations. The company’s technology is intended to support electric utilities, industrial users, and other customers seeking scalable alternatives for reliable power generation.
NuScale offers its reactor technology through the VOYGR power plant platform, along with engineering, licensing, project development, and deployment support.