NuScale Power (NYSE:SMR) Shares Down 1.4% – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) dropped 1.4% on Monday . The company traded as low as $9.55 and last traded at $9.6280. Approximately 22,514,031 shares changed hands during trading, a decline of 26% from the average session volume of 30,594,857 shares. The stock had previously closed at $9.76.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMR. UBS Group lowered their price target on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. HSBC began coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Citigroup decreased their price target on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th. Finally, The Goldman Sachs Group set a $9.00 price target on NuScale Power in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.92.

NuScale Power Stock Down 1.4%

The company has a fifty day moving average of $11.32 and a 200 day moving average of $13.39. The company has a market cap of $3.52 billion, a P/E ratio of -3.30 and a beta of 2.24.

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 analysts’ consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. NuScale Power’s revenue for the quarter was down 95.8% on a year-over-year basis. As a group, research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Transactions at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of NuScale Power 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety 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.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently made changes to their positions in the company. Nemes Rush Group LLC bought a new position in shares of NuScale Power during the 3rd quarter valued at approximately $25,000. Strategic Advocates LLC bought a new position in shares of NuScale Power in the 3rd quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC increased its stake in NuScale Power by 1,550.9% during 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 position in NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after purchasing an additional 2,309 shares during the period. Finally, Ameriflex Group Inc. bought a new stake in shares of NuScale Power in the 4th quarter valued at approximately $30,000. 78.37% of the stock is currently owned by hedge funds and other 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.