NuScale Power (NYSE:SMR) Shares Down 1.5% - Here's What Happened

Key Points

• NuScale Power shares fell 1.5% to $8.47, with trading volume 27% above the average daily volume.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and a $15.15 consensus price target, though recent firms including Barclays and Truist issued targets of $11 and $10, respectively.
• The company reported a quarterly EPS loss of $0.14 versus the expected $0.11 loss, while revenue of $0.56 million fell well short of the $7 million estimate and declined 95.8% year over year.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price dropped 1.5% during trading on Friday . The company traded as low as $8.39 and last traded at $8.4710. Approximately 38,658,189 shares were traded during trading, an increase of 27% from the average daily volume of 30,395,574 shares. The stock had previously closed at $8.60.

Wall Street Analysts Forecast Growth

SMR has been the subject of several recent analyst reports. Barclays lowered their price target on NuScale Power from $15.00 to $11.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Truist Financial started coverage on NuScale Power in a research note on Monday, July 13th. They set a "hold" rating and a $10.00 price target for the company. Citigroup reiterated a "sell" rating on shares of NuScale Power in a report on Wednesday, July 22nd. The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a report on Friday, May 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NuScale Power in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, NuScale Power presently has an average rating of "Hold" and a consensus price target of $15.15.

NuScale Power Trading Down 1.5%

The company has a market cap of $3.10 billion, a price-to-earnings ratio of -2.90 and a beta of 2.24. The company has a fifty day moving average price of $10.02 and a two-hundred day moving average price of $12.31.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. The firm's revenue for the quarter was down 95.8% compared to the same quarter last year. Sell-side analysts anticipate that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC boosted its position in shares of NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company's stock valued at $25,000 after buying an additional 1,675 shares during the last quarter. Assetmark Inc. raised its stake in shares of NuScale Power by 1,940.3% in the first quarter. Assetmark Inc. now owns 2,428 shares of the company's stock valued at $26,000 after buying an additional 2,309 shares during the period. Ameriflex Group Inc. purchased a new position in NuScale Power in the 4th quarter valued at approximately $30,000. Strategic Advocates LLC grew its stake in NuScale Power by 233.0% during the fourth quarter. Strategic Advocates LLC now owns 2,321 shares of the company's stock valued at $33,000 after acquiring an additional 1,624 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in NuScale Power by 32.4% in the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company's stock worth $34,000 after acquiring an additional 592 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

About NuScale Power

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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