NuScale Power (NYSE:SMR) Stock Price Down 9.9% – What’s Next?

by · The Markets Daily

NuScale Power Corporation (NYSE:SMR – Get Free Report) shares fell 9.9% during mid-day trading on Tuesday . The company traded as low as $9.14 and last traded at $9.1650. 34,664,264 shares changed hands during mid-day trading, an increase of 35% from the average session volume of 25,599,172 shares. The stock had previously closed at $10.17.

Key Stories Impacting NuScale Power

Here are the key news stories impacting NuScale Power this week:

Analysts Set New Price Targets

A number of brokerages recently issued reports on SMR. Royal Bank Of Canada decreased their target price on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Cantor Fitzgerald decreased their target price on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. Texas Capital upgraded shares of NuScale Power to a “strong-buy” rating in a research report on Tuesday, January 27th. B. Riley Financial decreased their target price on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Finally, TD Cowen lowered shares of NuScale Power from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.88.

Check Out Our Latest Analysis on SMR

NuScale Power Trading Down 9.9%

The company’s 50-day moving average price is $13.47 and its two-hundred day moving average price is $22.56. The company has a market cap of $3.10 billion, a P/E ratio of -3.17 and a beta of 2.27.

NuScale Power (NYSE:SMR – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.70). NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. The business had revenue of $1.81 million for the quarter, compared to the consensus estimate of $8.76 million. Equities analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 463,747 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $13.15, for a total transaction of $6,098,273.05. Following the completion of the transaction, the director owned 39,936,472 shares in the company, valued at approximately $525,164,606.80. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Clayton Scott sold 22,478 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $12.22, for a total transaction of $274,681.16. Following the transaction, the insider owned 132,852 shares of the company’s stock, valued at approximately $1,623,451.44. This trade represents a 14.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 635,610 shares of company stock worth $8,198,439. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after buying an additional 4,482,254 shares during the period. Van ECK Associates Corp boosted its holdings in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after buying an additional 6,227,747 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the period. Morgan Stanley boosted its holdings in shares of NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after buying an additional 2,361,532 shares during the period. Finally, Samsung C&T Corp boosted its holdings in shares of NuScale Power by 98.9% in the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after buying an additional 2,578,702 shares during the period. 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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