NuScale Power (NYSE:SMR) Trading Down 3.1% – Here’s Why

NuScale Power Corporation (NYSE:SMR) fell 3.1% during mid-day trading on Wednesday . The company traded as low as $25.59 and last traded at $25.9040. 20,701,792 shares traded hands during mid-day trading, an increase of 46% from the average session volume of 14,182,492 shares. The stock had previously closed at $26.74.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday. UBS Group boosted their price objective on NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Wall Street Zen lowered NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday. BNP Paribas cut NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, Barclays began coverage on NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target on the stock. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $37.50.

NuScale Power Stock Down 3.1%

The company has a market capitalization of $7.38 billion, a P/E ratio of -9.06 and a beta of 2.03. The business has a 50 day moving average of $38.90 and a 200 day moving average of $36.38.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $11.29 million. During the same period last year, the company earned ($0.18) earnings per share. The firm’s revenue was up 1635.2% on a year-over-year basis. On average, research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Activity

In related news, Director Corp Fluor sold 87,900 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 15,030,641 shares of company stock worth $605,953,415. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently modified their holdings of the stock. CX Institutional bought a new position in shares of NuScale Power during the 3rd quarter valued at approximately $25,000. Quantbot Technologies LP bought a new position in NuScale Power during the first quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. increased its position in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after acquiring an additional 359 shares during the last quarter. Indiana Trust & Investment Management Co bought a new stake in shares of NuScale Power in the 3rd quarter worth about $34,000. Finally, Accredited Wealth Management LLC bought a new stake in shares of NuScale Power in the 3rd quarter worth about $35,000. 78.37% of the stock is owned by institutional investors.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.