Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) traded down 1.2% during mid-day trading on Thursday . The stock traded as low as $37.90 and last traded at $38.19. 4,081,516 shares changed hands during trading, a decline of 58% from the average session volume of 9,761,006 shares. The stock had previously closed at $38.66.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on SMR. CLSA set a $41.00 price target on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Citigroup initiated coverage on NuScale Power in a research note on Monday. They issued a "neutral" rating and a $46.00 price objective on the stock. BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, UBS Group lifted their target price on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.38.
Check Out Our Latest Stock Analysis on NuScale Power
NuScale Power Stock Down 1.0%
The business's 50 day moving average is $27.46 and its two-hundred day moving average is $22.18. The firm has a market cap of $10.89 billion, a P/E ratio of -27.95 and a beta of 2.00.
NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. Equities research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.
Insider Buying and Selling at NuScale Power
In other NuScale Power news, CEO John Lawrence Hopkins sold 34,675 shares of NuScale Power stock in a transaction on Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the sale, the chief executive officer now directly owns 49,019 shares of the company's stock, valued at approximately $833,323. The trade was a 41.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction on 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 sale, the chief technology officer now directly owns 516,207 shares of the company's stock, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,278 shares of company stock valued at $2,286,280. Corporate insiders own 1.27% of the company's stock.
Institutional Investors Weigh In On NuScale Power
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CoreCap Advisors LLC bought a new stake in NuScale Power in the fourth quarter valued at $33,000. Quantbot Technologies LP acquired a new position in shares of NuScale Power during the first quarter valued at about $27,000. Venturi Wealth Management LLC grew its holdings in shares of NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after buying an additional 1,500 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of NuScale Power during the fourth quarter valued at about $42,000. Finally, Amalgamated Bank grew its holdings in shares of NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after buying an additional 986 shares during the last quarter. 78.37% of the stock is owned by institutional investors.
About NuScale Power
(
Get Free Report)
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.
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