NuScale Power (NYSE:SMR) Shares Down 3.9% – Here’s Why

Shares of NuScale Power Corporation (NYSE:SMR) traded down 3.9% during trading on Tuesday . The company traded as low as $7.80 and last traded at $8.21. Approximately 26,977,695 shares were traded during trading, a decline of 11% from the average session volume of 30,397,779 shares. The stock had previously closed at $8.54.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SMR. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Truist Financial started coverage on shares of NuScale Power in a research note on Monday, July 13th. They set a “hold” rating and a $10.00 target price for the company. Citigroup reissued a “sell” rating on shares of NuScale Power in a report on Wednesday, July 22nd. B. Riley Financial decreased their price target on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Finally, Barclays dropped their price objective on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have assigned 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 target price of $15.15.

NuScale Power Stock Performance

The company has a market cap of $3.00 billion, a P/E ratio of -2.81 and a beta of 2.24. The stock has a 50-day simple moving average of $10.17 and a 200 day simple moving average of $12.55.

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

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the business. Heck Capital Advisors LLC raised its stake in shares of NuScale Power by 33.5% in the 2nd quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock valued at $164,000 after buying an additional 4,115 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of NuScale Power by 209.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock worth $1,083,000 after acquiring an additional 73,100 shares during the period. Adamsbrown Wealth Consultants LLC acquired a new stake in shares of NuScale Power during the 2nd quarter valued at about $100,000. Hennion & Walsh Asset Management Inc. increased its stake in NuScale Power by 30.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock valued at $845,000 after acquiring an additional 19,679 shares during the period. Finally, Evanson Financial LLC bought a new stake in NuScale Power in the second quarter valued at about $512,000. Institutional investors 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.