NuScale Power (NYSE:SMR) Shares Down 1.4% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price fell 1.4% during mid-day trading on Wednesday . The company traded as low as $17.03 and last traded at $17.56. 4,361,833 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 5,576,285 shares. The stock had previously closed at $17.81.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, B. Riley raised their price target on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Up 6.0 %

The stock has a market cap of $4.57 billion, a PE ratio of -17.83 and a beta of 1.25. The company’s 50-day moving average price is $11.24 and its 200 day moving average price is $9.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period last year, the company earned ($0.13) EPS.

Insiders Place Their Bets

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 490,595 shares of company stock valued at $6,287,356 over the last 90 days. 1.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Swedbank AB acquired a new position in shares of NuScale Power in the first quarter worth $18,585,000. Van ECK Associates Corp purchased a new position in NuScale Power in the second quarter valued at $7,600,000. Bank of New York Mellon Corp boosted its holdings in NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after purchasing an additional 137,382 shares during the period. Wedbush Securities Inc. grew its stake in NuScale Power by 84.9% during the 2nd quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock worth $2,205,000 after purchasing an additional 86,600 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in NuScale Power by 244.7% during the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after purchasing an additional 131,570 shares during the period. Institutional investors and hedge funds own 15.28% of the company’s stock.

NuScale Power Company Profile

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.