NuScale Power (NYSE:SMR) Shares Down 1.4% – What’s Next?

by · The Markets Daily

Shares of NuScale Power Corporation (NYSE:SMR – Get Free Report) dropped 1.4% on Monday . The company traded as low as $9.55 and last traded at $9.6280. Approximately 22,514,031 shares changed hands during trading, a decline of 26% from the average session volume of 30,594,857 shares. The stock had previously closed at $9.76.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMR. UBS Group lowered their price target on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. HSBC began coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Citigroup decreased their price target 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. Finally, The Goldman Sachs Group set a $9.00 price target on NuScale Power in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.92.

Read Our Latest Analysis on SMR

NuScale Power Stock Down 1.4%

The company has a fifty day moving average of $11.32 and a 200 day moving average of $13.39. The company has a market cap of $3.52 billion, a P/E ratio of -3.30 and a beta of 2.24.

NuScale Power (NYSE:SMR – Get Free Report) last issued 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). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. NuScale Power’s revenue for the quarter was down 95.8% on a year-over-year basis. As a group, research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Transactions at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 39,936,472 shares of company stock worth $472,831,169. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently made changes to their positions in the company. Nemes Rush Group LLC bought a new position in shares of NuScale Power during the 3rd quarter valued at approximately $25,000. Strategic Advocates LLC bought a new position in shares of NuScale Power in the 3rd quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC increased its stake in NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after acquiring an additional 1,675 shares during the last quarter. Assetmark Inc. raised its position in NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after purchasing an additional 2,309 shares during the period. Finally, Ameriflex Group Inc. bought a new stake in shares of NuScale Power in the 4th quarter valued at approximately $30,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

About NuScale Power

(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.

See Also