NuScale Power Corporation (NYSE:SMR – Get Free Report)’s stock price dropped 7.1% on Tuesday . The stock traded as low as $9.59 and last traded at $9.9910. Approximately 38,766,500 shares were traded during trading, an increase of 29% from the average daily volume of 30,167,480 shares. The stock had previously closed at $10.76.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on SMR shares. HSBC initiated coverage on NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. UBS Group lowered their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. B. Riley Financial decreased their target price on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 24th. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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 Up 2.8%
NuScale Power (NYSE:SMR – Get Free Report) last released 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 business had revenue of $0.57 million for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was down 95.8% on a year-over-year basis. Equities analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current year.
Insider Activity at NuScale Power
In other news, Director Corp Fluor sold 13,500,000 shares of NuScale Power 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 39,936,472 shares of company stock valued at $472,831,169. 1.28% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in NuScale Power by 40.5% during the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after acquiring an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after purchasing an additional 6,227,747 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after purchasing an additional 1,346,796 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of NuScale Power in the first quarter valued at about $59,141,000. Finally, Morgan Stanley increased its position in shares of NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after acquiring an additional 2,361,532 shares during the last quarter. 78.37% of the stock is currently owned by 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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