NuScale Power (NYSE:SMR) Stock Price Down 4.6%

Shares of NuScale Power Co. (NYSE:SMR) dropped 4.6% on Monday . The company traded as low as $4.99 and last traded at $5.03. Approximately 1,303,456 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 4,421,702 shares. The stock had previously closed at $5.27.

Wall Street Analyst Weigh In

SMR has been the subject of several recent research reports. Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Canaccord Genuity Group began coverage on shares of NuScale Power in a research note on Monday, January 29th. They issued a “buy” rating and a $4.25 target price for the company. UBS Group raised their price target on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group upped their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, NuScale Power has an average rating of “Hold” and a consensus price target of $7.75.

NuScale Power Stock Performance

The stock has a 50 day moving average price of $4.58 and a 200 day moving average price of $3.73.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. The company had revenue of $4.56 million during the quarter, compared to the consensus estimate of $1.75 million. On average, research analysts predict that NuScale Power Co. will post -0.41 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in shares of NuScale Power during the 4th quarter valued at approximately $25,000. Ameritas Investment Partners Inc. boosted its holdings in shares of NuScale Power by 80.1% in the second quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock worth $30,000 after acquiring an additional 1,968 shares during the period. Essex Private Wealth Management LLC purchased a new position in shares of NuScale Power in the fourth quarter valued at $33,000. Sloy Dahl & Holst LLC bought a new stake in shares of NuScale Power during the 4th quarter valued at $33,000. Finally, Arizona State Retirement System bought a new stake in shares of NuScale Power during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About NuScale Power

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.