NuScale Power (NYSE:SMR) Shares Down 4.3% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price was down 4.3% on Monday . The stock traded as low as $11.04 and last traded at $11.23. 33,404,657 shares traded hands during trading, an increase of 8% from the average daily volume of 30,790,002 shares. The stock had previously closed at $11.74.

Analyst Upgrades and Downgrades

SMR has been the topic of a number of analyst reports. Bank of America assumed coverage on shares of NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target on the stock. Barclays cut their price target on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, February 23rd. Citigroup decreased their price objective on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. Cantor Fitzgerald cut their target price on NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.92.

NuScale Power Stock Down 4.3%

The company has a market cap of $4.10 billion, a PE ratio of -3.85 and a beta of 2.20. The company’s fifty day moving average is $11.52 and its 200-day moving average is $14.10.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. NuScale Power’s revenue for the quarter was down 95.8% on a year-over-year basis. Equities research analysts expect that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $12.07, for a total value of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at approximately $319,088,217.04. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last 90 days. 1.28% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. Pacer Advisors Inc. boosted its stake in shares of NuScale Power by 67.1% during the 1st quarter. Pacer Advisors Inc. now owns 164,247 shares of the company’s stock worth $1,780,000 after acquiring an additional 65,933 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of NuScale Power by 1.8% in the 1st quarter. Parallel Advisors LLC now owns 59,898 shares of the company’s stock worth $649,000 after purchasing an additional 1,053 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of NuScale Power by 109.3% in the 1st quarter. NewEdge Advisors LLC now owns 48,430 shares of the company’s stock worth $525,000 after purchasing an additional 25,293 shares in the last quarter. Concorde Asset Management LLC raised its holdings in NuScale Power by 9.8% in the 1st quarter. Concorde Asset Management LLC now owns 12,390 shares of the company’s stock worth $134,000 after purchasing an additional 1,110 shares during the period. Finally, Verus Capital Partners LLC bought a new position in NuScale Power in the 1st quarter worth $175,000. 78.37% of the stock is currently owned by institutional investors.

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.