Shares of NuScale Power Corporation (NYSE:SMR – Get Free Report) fell 1.4% on Thursday . The company traded as low as $9.81 and last traded at $10.0660. Approximately 22,295,562 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 30,754,324 shares. The stock had previously closed at $10.21.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. B. Riley Financial lowered their price objective on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. Royal Bank Of Canada dropped their price target on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. HSBC started coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective for the company. Finally, Canaccord Genuity Group decreased their target price on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.92.
View Our Latest Report on NuScale Power
NuScale Power Trading Down 1.4%
NuScale Power (NYSE:SMR – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.56 million during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down 95.8% compared to the same quarter last year. Sell-side analysts anticipate that NuScale Power Corporation will post -0.46 EPS for the current year.
Insider Transactions at NuScale Power
In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 39,936,472 shares of company stock valued at $472,831,169. Corporate insiders own 1.28% of the company’s stock.
Hedge Funds Weigh In On NuScale Power
A number of hedge funds have recently made changes to their positions in the business. Nemes Rush Group LLC bought a new stake in NuScale Power during the 3rd quarter valued at approximately $25,000. Strategic Advocates LLC bought a new position in shares of NuScale Power during the third quarter worth $25,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of 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. boosted its position in shares of NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new position in NuScale Power during the fourth quarter valued at $30,000. Institutional investors own 78.37% of the company’s stock.
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.
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