NuScale Power Corporation (NYSE:SMR – Get Free Report)’s share price fell 1.4% on Monday . The company traded as low as $9.55 and last traded at $9.6280. 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.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on SMR shares. HSBC began coverage on NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective for the company. Northland Securities set a $19.00 target price on shares of NuScale Power in a report on Monday, May 11th. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research note on Friday, May 8th. Bank of America started coverage on NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.92.
View Our Latest Research Report on NuScale Power
NuScale Power Trading Down 1.4%
NuScale Power (NYSE:SMR – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business’s quarterly revenue was down 95.8% on a year-over-year basis. As a group, research analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the 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 SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 39,936,472 shares of company stock valued at $472,831,169. Insiders own 1.28% of the company’s stock.
Hedge Funds Weigh In On NuScale Power
A number of large investors have recently bought and sold shares of SMR. Nemes Rush Group LLC purchased a new position in shares of NuScale Power during the third quarter valued at approximately $25,000. Strategic Advocates LLC bought a new position in NuScale Power in the third quarter worth about $25,000. Vermillion & White Wealth Management Group LLC boosted its position in NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after acquiring an additional 1,675 shares in the last quarter. Assetmark Inc. raised its position in shares of NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new position in shares of NuScale Power in the 4th quarter valued at approximately $30,000. 78.37% of the stock is owned by hedge funds and other institutional investors.
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.
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