NuScale Power (NYSE:SMR) Shares Down 2.5% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) dropped 2.5% on Tuesday . The stock traded as low as $11.58 and last traded at $11.8730. Approximately 18,308,738 shares traded hands during trading, a decline of 35% from the average daily volume of 28,336,563 shares. The stock had previously closed at $12.18.

Wall Street Analyst Weigh In

SMR has been the topic of several research reports. Texas Capital upgraded shares of NuScale Power to a “strong-buy” rating in a report on Tuesday, January 27th. Cantor Fitzgerald dropped their price objective on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, February 24th. Canaccord Genuity Group dropped their price objective on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Royal Bank Of Canada lowered their target price on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Finally, Citigroup lowered their target price on shares of NuScale Power from $11.50 to $9.00 and set a “sell” rating on the stock in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.77.

NuScale Power Stock Performance

The company has a market cap of $4.01 billion, a price-to-earnings ratio of -4.11 and a beta of 2.24. The stock’s fifty day moving average is $11.66 and its two-hundred day moving average is $18.87.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.70). NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%.The business had revenue of $1.81 million during the quarter, compared to analyst estimates of $8.76 million. On average, equities research analysts expect that NuScale Power Corporation will post -0.44 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, CFO Robert Ramsey Hamady sold 18,570 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total value of $226,925.40. Following the completion of the sale, the chief financial officer directly owned 97,192 shares of the company’s stock, valued at approximately $1,187,686.24. This represents a 16.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,572,082 shares of company stock worth $481,029,608 over the last ninety days. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in NuScale Power by 40.5% in the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after purchasing an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp grew its position in NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after purchasing an additional 6,227,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after purchasing an additional 1,346,796 shares in the last quarter. Morgan Stanley grew its position in NuScale Power by 81.0% in the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after purchasing an additional 2,361,532 shares in the last quarter. Finally, Samsung C&T Corp grew its position in NuScale Power by 98.9% in the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after purchasing an additional 2,578,702 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

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.