NuScale Power (NYSE:SMR) Shares Down 3.1% - Here's What Happened

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares traded down 3.1% during mid-day trading on Monday . The company traded as low as $48.35 and last traded at $48.70. 4,483,324 shares were traded during trading, a decline of 55% from the average session volume of 10,064,238 shares. The stock had previously closed at $50.25.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Northland Securities assumed coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective on the stock. CLSA set a $41.00 target price on shares of NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Finally, Citigroup started coverage on NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, NuScale Power currently has a consensus rating of "Hold" and an average price target of $32.00.

NuScale Power Stock Performance

The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of -33.14 and a beta of 2.04. The firm's fifty day simple moving average is $34.82 and its 200 day simple moving average is $24.36.

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

Insider Transactions at NuScale Power

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the company's stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clayton Scott sold 10,019 shares of the company's 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 sale, the insider directly owned 86,965 shares in the company, valued at $1,459,272.70. This represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,278 shares of company stock worth $1,786,990 over the last quarter. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of NuScale Power by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock valued at $191,000 after purchasing an additional 656 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of NuScale Power in the fourth quarter valued at $2,755,000. PNC Financial Services Group Inc. boosted its holdings in shares of NuScale Power by 2,980.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after purchasing an additional 3,576 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of NuScale Power by 51.0% in the 4th quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after purchasing an additional 6,175 shares during the period. Finally, Avantax Advisory Services Inc. increased its holdings in NuScale Power by 43.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 15,828 shares of the company's stock valued at $284,000 after purchasing an additional 4,785 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

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.

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