NuScale Power Corporation (NYSE:SMR – Get Free Report) fell 1.4% during mid-day trading on Wednesday . The stock traded as low as $11.66 and last traded at $12.0520. 23,408,413 shares were traded during trading, a decline of 20% from the average session volume of 29,165,705 shares. The stock had previously closed at $12.22.
Analyst Ratings Changes
SMR has been the subject of several recent research reports. UBS Group dropped 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. Citigroup decreased their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. Northland Securities set a $19.00 price objective on NuScale Power in a research note on Monday, May 11th. Cantor Fitzgerald dropped their target price on NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. Finally, Bank of America started coverage on NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.92.
Check Out Our Latest Analysis on SMR
NuScale Power Trading Up 3.7%
NuScale Power (NYSE:SMR – Get Free Report) last posted its quarterly earnings data 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 $0.57 million during the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.NuScale Power’s quarterly revenue was down 95.8% on a year-over-year basis. As a group, analysts anticipate that NuScale Power Corporation will post -0.79 EPS for the current year.
Insider Transactions at NuScale Power
In related news, CFO Robert Ramsey Hamady sold 18,570 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $226,925.40. Following the completion of the sale, the chief financial officer directly owned 97,192 shares of the company’s stock, valued at approximately $1,187,686.24. This trade represents a 16.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 82,667 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total value of $1,010,190.74. Following the transaction, the chief executive officer owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. The trade was a 41.40% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 40,108,335 shares of company stock valued at $474,931,335. Company insiders own 1.28% of the company’s stock.
Institutional Trading of NuScale Power
A number of large investors have recently made changes to their positions in SMR. Royal Bank of Canada increased its stake in NuScale Power by 623.4% in the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after buying an additional 394,065 shares during the period. AQR Capital Management LLC boosted its position in NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after buying an additional 10,244 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in NuScale Power in the 1st quarter valued at about $390,000. Jones Financial Companies Lllp grew its stake in NuScale Power by 9.1% in the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock worth $238,000 after acquiring an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after acquiring an additional 1,705,411 shares during the period. 78.37% of the stock is 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.
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