NuScale Power (NYSE:SMR) Stock Price Down 1%

NuScale Power Co. (NYSE:SMR) shares fell 1% during mid-day trading on Friday . The stock traded as low as $11.60 and last traded at $11.86. 2,308,313 shares changed hands during trading, a decline of 50% from the average session volume of 4,601,482 shares. The stock had previously closed at $11.98.

Wall Street Analyst Weigh In

SMR has been the topic of a number of analyst reports. UBS Group increased their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Canaccord Genuity Group lifted their price target on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a report on Monday, March 18th. B. Riley increased their price objective on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.15.

NuScale Power Price Performance

The firm has a market capitalization of $2.77 billion, a P/E ratio of -13.27 and a beta of 1.17. The firm’s fifty day moving average price is $7.55 and its 200-day moving average price is $5.12.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.21). The firm had revenue of $1.38 million during the quarter, compared to analyst estimates of $3.15 million. NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. During the same period last year, the company posted ($0.16) EPS. Analysts expect that NuScale Power Co. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Clayton Scott sold 7,191 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the transaction, the insider now owns 43,549 shares in the company, valued at approximately $263,035.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $43,433.64. Following the transaction, the insider now owns 43,549 shares of the company’s stock, valued at $263,035.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Robert K. Temple sold 8,873 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $53,592.92. Following the sale, the general counsel now directly owns 42,860 shares of the company’s stock, valued at $258,874.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,131 shares of company stock worth $339,745. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of NuScale Power by 3.8% in the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after acquiring an additional 204,505 shares in the last quarter. Swedbank AB purchased a new position in NuScale Power during the 1st quarter worth approximately $18,585,000. Mirae Asset Global Investments Co. Ltd. raised its stake in NuScale Power by 5.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after purchasing an additional 172,408 shares during the period. FMR LLC lifted its holdings in shares of NuScale Power by 11.2% in the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock valued at $14,619,000 after purchasing an additional 301,548 shares in the last quarter. Finally, Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power in the first quarter worth $1,328,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

About NuScale Power

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.