NuScale Power (NYSE:SMR) Shares Down 2.4% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s stock price fell 2.4% during trading on Tuesday . The stock traded as low as $9.72 and last traded at $10.01. Approximately 23,107,131 shares changed hands during trading, a decline of 25% from the average session volume of 30,738,889 shares. The stock had previously closed at $10.26.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMR. B. Riley Financial lowered their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Citigroup reduced their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th. Northland Securities set a $19.00 price objective on NuScale Power in a report on Monday, May 11th. Bank of America started coverage on shares of NuScale Power in a research note on Friday, May 22nd. They set a “neutral” rating and a $12.00 target price on the stock. Finally, The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Down 2.4%

The firm has a market capitalization of $3.66 billion, a PE ratio of -3.43 and a beta of 2.20. The business has a 50-day moving average price of $11.54 and a 200-day moving average price of $13.65.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company’s revenue for the quarter was down 95.8% compared to the same quarter last year. On average, equities research analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at $319,088,217.04. The trade was a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 39,936,472 shares of company stock worth $472,831,169 over the last quarter. 1.28% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after acquiring an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp increased its stake in NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after acquiring an additional 6,227,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 valued at $263,195,000 after purchasing an additional 1,346,796 shares during the period. Renaissance Technologies LLC purchased a new stake in NuScale Power in the first quarter valued at $59,141,000. Finally, Morgan Stanley lifted its stake in shares of NuScale Power by 81.0% in the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after purchasing an additional 2,361,532 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

About NuScale Power

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.