NuScale Power (NYSE:SMR) Trading Down 9.4% – Here’s What Happened

by · The Markets Daily

NuScale Power Corporation (NYSE:SMR – Get Free Report) shares dropped 9.4% on Monday . The stock traded as low as $18.05 and last traded at $18.1140. Approximately 20,429,676 shares were traded during mid-day trading, an increase of 39% from the average daily volume of 14,689,937 shares. The stock had previously closed at $20.00.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SMR. BNP Paribas downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Cantor Fitzgerald began coverage on shares of NuScale Power in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price objective for the company. UBS Group set a $20.00 price objective on NuScale Power in a research report on Tuesday, November 25th. Finally, Bank of America reaffirmed an “underperform” rating and set a $34.00 price target (down previously from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $36.12.

View Our Latest Analysis on NuScale Power

NuScale Power Stock Down 9.4%

The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of -6.33 and a beta of 2.09. The business’s 50 day simple moving average is $34.62 and its 200-day simple moving average is $36.64.

NuScale Power (NYSE:SMR – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue was up 1635.2% on a year-over-year basis. On average, analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director directly owned 10,085,344 shares in the company, valued at $443,654,282.56. This represents a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 15,000,000 shares of company stock worth $604,862,902. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cantor Fitzgerald L. P. lifted its holdings in shares of NuScale Power by 78.3% during the third quarter. Cantor Fitzgerald L. P. now owns 13,284 shares of the company’s stock worth $478,000 after purchasing an additional 5,834 shares during the period. Strategic Advocates LLC bought a new position in NuScale Power during the 3rd quarter worth $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in NuScale Power during the 3rd quarter worth about $94,000. CIBC Bancorp USA Inc. bought a new stake in shares of NuScale Power in the 3rd quarter valued at about $487,000. Finally, WBI Investments LLC acquired a new stake in shares of NuScale Power in the third quarter valued at about $337,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

About NuScale Power

(Get Free Report)

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.

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