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

NuScale Power Corporation (NYSE:SMR)’s stock price was down 7.1% on Tuesday . The company traded as low as $9.59 and last traded at $9.9910. Approximately 38,766,500 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 30,167,480 shares. The stock had previously closed at $10.76.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SMR shares. Bank of America started coverage on shares of NuScale Power in a research report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target on the stock. Citigroup cut their price target on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. UBS Group cut their price target on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. 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 research report on Monday, February 23rd. Finally, TD Cowen downgraded shares of NuScale Power from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NuScale Power has an average rating of “Hold” and a consensus target price of $15.92.

NuScale Power Stock Performance

The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -3.42 and a beta of 2.20. The firm’s fifty day simple moving average is $11.48 and its 200 day simple moving average is $14.66.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company 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 business’s quarterly revenue was down 95.8% on a year-over-year basis. Analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 39,936,472 shares of company stock worth $472,831,169. Company insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after acquiring an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of NuScale Power by 117.8% during the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after acquiring an additional 6,227,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NuScale Power by 22.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after acquiring an additional 1,346,796 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of NuScale Power during the 1st quarter worth approximately $59,141,000. Finally, Morgan Stanley grew its stake in shares of NuScale Power by 81.0% during the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after acquiring an additional 2,361,532 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

About NuScale Power

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.