NuScale Power (NYSE:SMR) Stock Price Down 12.5% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price fell 12.5% on Tuesday . The company traded as low as $35.62 and last traded at $35.7130. 16,951,193 shares changed hands during trading, an increase of 22% from the average session volume of 13,854,207 shares. The stock had previously closed at $40.83.

Analyst Ratings Changes

A number of research firms have recently weighed in on SMR. BNP Paribas lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. BNP Paribas Exane lowered shares of NuScale Power from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 21st. Canaccord Genuity Group increased their price target on shares of NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Northland Securities began coverage on shares of NuScale Power in a research note on Monday, July 7th. They issued a “market perform” rating and a $35.00 price target for the company. Finally, Barclays began coverage on shares of NuScale Power in a research note on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $37.73.

NuScale Power Price Performance

The stock’s 50 day simple moving average is $39.36 and its two-hundred day simple moving average is $35.68. The firm has a market cap of $10.17 billion, a P/E ratio of -30.01 and a beta of 2.03.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The business had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. Equities research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In related news, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total transaction of $3,479,082.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 15,030,641 shares of company stock worth $605,953,415 over the last ninety days. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the company. CX Institutional bought a new stake in shares of NuScale Power during the third quarter valued at approximately $25,000. Quantbot Technologies LP bought a new stake in shares of NuScale Power during the first quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after acquiring an additional 359 shares in the last quarter. Indiana Trust & Investment Management Co bought a new stake in shares of NuScale Power during the third quarter valued at approximately $34,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of NuScale Power during the third quarter valued at approximately $41,000. Institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.