NuScale Power (NYSE:SMR) Shares Down 7.1% – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) dropped 7.1% on Wednesday . The stock traded as low as $9.27 and last traded at $9.2950. Approximately 27,209,213 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 30,145,045 shares. The stock had previously closed at $10.00.

Analyst Ratings Changes

SMR has been the topic of a number of analyst reports. Canaccord Genuity Group decreased their price target on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Bank of America initiated coverage on NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target on the stock. Royal Bank Of Canada decreased their price target on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Northland Securities set a $19.00 price target on NuScale Power in a research note on Monday, May 11th. Finally, B. Riley Financial decreased their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Price Performance

The stock has a 50 day moving average of $11.43 and a two-hundred day moving average of $14.45. The stock has a market capitalization of $3.61 billion, a PE ratio of -3.39 and a beta of 2.20.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $0.57 million for the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The firm’s revenue was down 95.8% compared to the same quarter last year. As a group, research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the completion of the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at approximately $319,088,217.04. The trade was a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 39,936,472 shares of company stock worth $472,831,169 over the last ninety days. Insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of SMR. Nemes Rush Group LLC acquired a new position in NuScale Power during the third quarter worth $25,000. Strategic Advocates LLC acquired a new position in NuScale Power during the third quarter worth $25,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of NuScale Power by 1,550.9% in 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 holdings in shares of NuScale Power by 1,940.3% in the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in shares of NuScale Power in the fourth quarter worth $30,000. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Company Profile

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.