NuScale Power (NYSE:SMR) Stock Price Down 1.1% - What's Next?

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) dropped 1.1% on Tuesday . The stock traded as low as $41.64 and last traded at $42.02. Approximately 5,661,193 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 9,581,603 shares. The stock had previously closed at $42.49.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SMR shares. UBS Group upped their target price on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. CLSA set a $41.00 target price on shares of NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. Finally, BTIG Research reissued a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $27.00.

NuScale Power Stock Performance

The firm has a market cap of $11.13 billion, a P/E ratio of -28.58 and a beta of 2.00. The stock's 50 day simple moving average is $24.13 and its 200 day simple moving average is $21.49.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The business had revenue of $13.38 million for the quarter, compared to analysts' expectations of $1.46 million. As a group, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. The trade was a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,278 shares of company stock worth $2,286,280 in the last three months. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of NuScale Power in the 1st quarter worth $27,000. CoreCap Advisors LLC purchased a new stake in shares of NuScale Power in the 4th quarter worth $33,000. Venturi Wealth Management LLC raised its holdings in NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after purchasing an additional 1,500 shares during the period. Twin Tree Management LP purchased a new position in NuScale Power during the fourth quarter valued at $42,000. Finally, NBC Securities Inc. grew its holdings in NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after purchasing an additional 3,309 shares during the period. Institutional investors own 78.37% 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.