NuScale Power (NYSE:SMR) Shares Down 5.6% – Here’s Why

NuScale Power Corporation (NYSE:SMR) traded down 5.6% on Thursday . The company traded as low as $10.10 and last traded at $10.2070. 22,939,635 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 30,785,109 shares. The stock had previously closed at $10.81.

Analyst Ratings Changes

SMR has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a research note on Thursday, August 6th. Canaccord Genuity Group dropped their price target on shares of NuScale Power from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Truist Financial assumed coverage on NuScale Power in a research note on Monday, July 13th. They set a “hold” rating and a $10.00 price target for the company. B. Riley Financial reduced their price objective on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power has a consensus rating of “Hold” and a consensus price target of $13.50.

NuScale Power Trading Down 5.6%

The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -3.50 and a beta of 2.30. The business has a 50-day moving average price of $9.13 and a two-hundred day moving average price of $10.65.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $8.80 million. NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company’s quarterly revenue was down 99.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. On average, equities research analysts predict that NuScale Power Corporation will post -0.64 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, CFO Robert Hamady sold 29,880 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $9.39, for a total value of $280,573.20. Following the completion of the sale, the chief financial officer owned 124,235 shares of the company’s stock, valued at $1,166,566.65. This trade represents a 19.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Carl M. Fisher sold 18,771 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the completion of the transaction, the chief operating officer directly owned 114,718 shares in the company, valued at $1,073,760.48. This trade represents a 14.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 68,651 shares of company stock valued at $633,470 over the last 90 days. 1.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of NuScale Power during the 1st quarter valued at $59,141,000. Bank of America Corp DE increased its stake in NuScale Power by 33.4% in the first quarter. Bank of America Corp DE now owns 2,062,232 shares of the company’s stock valued at $22,355,000 after purchasing an additional 516,097 shares in the last quarter. Swedbank AB lifted its position in NuScale Power by 36.3% in the 1st quarter. Swedbank AB now owns 1,502,300 shares of the company’s stock valued at $16,285,000 after acquiring an additional 400,240 shares in the last quarter. Caz Investments LP lifted its holdings in NuScale Power by 10,000.0% during the fourth quarter. Caz Investments LP now owns 101,000 shares of the company’s stock worth $1,431,000 after acquiring an additional 100,000 shares during the period. Finally, Seven Grand Managers LLC bought a new stake in NuScale Power in the 4th quarter valued at about $1,771,000. 78.37% of the stock is currently 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.