NuScale Power (NYSE:SMR) Stock Price Down 5.7% – Here’s Why

by · The Cerbat Gem

NuScale Power Corporation (NYSE:SMRGet Free Report)’s stock price dropped 5.7% during mid-day trading on Thursday . The company traded as low as $9.28 and last traded at $9.2950. Approximately 19,808,980 shares changed hands during trading, a decline of 23% from the average daily volume of 25,600,568 shares. The stock had previously closed at $9.86.

NuScale Power News Summary

Here are the key news stories impacting NuScale Power this week:

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Northland Securities upgraded shares of NuScale Power from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, February 27th. Cantor Fitzgerald decreased their target price on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Citigroup cut their price target on shares of NuScale Power from $18.50 to $11.50 and set a “sell” rating for the company in a report on Monday, March 2nd. Finally, Canaccord Genuity Group cut their price target on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.88.

Read Our Latest Report on SMR

NuScale Power Stock Performance

The stock’s fifty day moving average price is $13.06 and its two-hundred day moving average price is $22.21. The company has a market cap of $3.14 billion, a P/E ratio of -3.22 and a beta of 2.27.

NuScale Power (NYSE:SMRGet Free Report) last issued its quarterly 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 firm had revenue of $1.81 million for the quarter, compared to the consensus estimate of $8.76 million. On average, equities research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insiders Place Their Bets

In related news, COO Carl M. Fisher sold 22,197 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total value of $271,247.34. Following the completion of the transaction, the chief operating officer owned 140,141 shares of the company’s stock, valued at $1,712,523.02. This represents a 13.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Lawrence Hopkins sold 82,667 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the transaction, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. The trade was a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 635,610 shares of company stock worth $8,198,439 over the last 90 days. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH acquired a new stake in shares of NuScale Power during the third quarter worth $14,347,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of NuScale Power by 686.9% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 184,609 shares of the company’s stock worth $6,646,000 after buying an additional 161,149 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NuScale Power by 103.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 609,450 shares of the company’s stock worth $21,940,000 after buying an additional 309,810 shares during the period. Lisanti Capital Growth LLC acquired a new stake in shares of NuScale Power during the third quarter worth $2,350,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the period. Institutional investors own 78.37% of the company’s stock.

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.

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