NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price dropped 2.9% during mid-day trading on Friday . The stock traded as low as $31.15 and last traded at $32.01. Approximately 6,219,145 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 9,031,923 shares. The stock had previously closed at $32.98.
Analyst Upgrades and Downgrades
SMR has been the subject of several recent analyst reports. 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. BTIG Research restated a "buy" rating on shares of NuScale Power in a report on Tuesday, May 13th. CLSA set a $41.00 price objective on NuScale Power and gave the stock an "outperform" rating in a report on Tuesday. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a "buy" rating in a report on Thursday. Finally, UBS Group increased their price objective on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.00.
Read Our Latest Stock Analysis on SMR
NuScale Power Stock Performance
The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of -33.85 and a beta of 1.62. The stock has a 50-day moving average price of $19.00 and a 200-day moving average price of $20.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.
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 for the quarter, topping the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million during the quarter, compared to analysts' expectations of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. As a group, analysts forecast that NuScale Power Co. will post -0.73 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO John Lawrence Hopkins sold 34,675 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the sale, the chief executive officer now owns 49,019 shares of the company's stock, valued at $833,323. This trade represents a 41.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now directly owns 29,985 shares in the company, valued at approximately $470,764.50. This trade represents a 51.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,392 shares of company stock valued at $3,138,221. Insiders own 1.27% of the company's stock.
Institutional Investors Weigh In On NuScale Power
Hedge funds have recently modified their holdings of the company. Spire Wealth Management acquired a new stake in shares of NuScale Power during the 4th quarter valued at $262,000. Raymond James Financial Inc. acquired a new stake in shares of NuScale Power during the 4th quarter valued at $2,755,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of NuScale Power by 467.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company's stock valued at $1,537,000 after acquiring an additional 70,638 shares in the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of NuScale Power by 93.3% during the 4th quarter. Clear Creek Financial Management LLC now owns 22,442 shares of the company's stock valued at $402,000 after acquiring an additional 10,830 shares in the last quarter. Finally, Financial Advocates Investment Management acquired a new stake in shares of NuScale Power during the 4th quarter valued at $474,000. Institutional investors and hedge funds own 78.37% of the company's stock.
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.
See Also
Before you consider NuScale Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NuScale Power wasn't on the list.
While NuScale Power currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
