NuScale Power (NYSE:SMR) Shares Down 1.9% - Here's Why

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) traded down 1.9% on Wednesday . The company traded as low as $33.63 and last traded at $34.41. 3,638,113 shares changed hands during trading, a decline of 63% from the average session volume of 9,871,924 shares. The stock had previously closed at $35.08.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SMR shares. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a report on Tuesday, May 20th. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Finally, Northland Capmk upgraded NuScale Power to a "hold" rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, NuScale Power presently has a consensus rating of "Hold" and a consensus price target of $32.00.

NuScale Power Stock Performance

The firm has a market capitalization of $9.92 billion, a P/E ratio of -25.58 and a beta of 2.04. The company has a 50-day moving average price of $31.19 and a 200-day moving average price of $23.15.

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

Insider Buying and Selling

In related news, insider Clayton Scott sold 10,019 shares of NuScale Power stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the transaction, the insider owned 86,965 shares in the company, valued at approximately $1,459,272.70. This trade represents a 10.33% 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, CEO John Lawrence Hopkins sold 34,675 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the sale, the chief executive officer owned 49,019 shares of the company's stock, valued at approximately $833,323. This represents a 41.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,278 shares of company stock worth $1,786,990. Company insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Kaizen Financial Strategies acquired a new position in shares of NuScale Power during the first quarter worth $204,000. Raymond James Financial Inc. acquired a new position in shares of NuScale Power during the fourth quarter worth $2,755,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of NuScale Power by 31.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock worth $2,734,000 after buying an additional 46,744 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of NuScale Power by 51.0% during the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after buying an additional 6,175 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of NuScale Power by 2,980.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after buying an additional 3,576 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.