NuScale Power (NYSE:SMR) Shares Down 3.8% - What's Next?

Key Points

• NuScale Power's stock price decreased by 3.8% to $31.42 on Wednesday, with trading volume down significantly at 5.5 million shares compared to the average of 11.5 million.
• Analysts have set a consensus target price of $34.44 for NuScale Power, with several firms adjusting their ratings, including Canaccord Genuity raising their target from $36.00 to $44.00.
• The company reported a quarterly earnings miss with (0.13) EPS against estimates of ($0.12) and revenue of $8.05 million, below the expected $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares fell 3.8% on Wednesday . The stock traded as low as $30.69 and last traded at $31.42. 5,543,917 shares were traded during mid-day trading, a decline of 52% from the average session volume of 11,539,268 shares. The stock had previously closed at $32.65.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMR. Canaccord Genuity Group increased their price objective on NuScale Power from $36.00 to $44.00 and gave the company a "buy" rating in a research report on Monday, August 11th. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. Citigroup began coverage on NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective for the company. Northland Capmk raised NuScale Power to a "hold" rating in a research report on Monday, July 7th. Finally, BNP Paribas Exane started coverage on NuScale Power in a research report on Friday, July 25th. They issued a "neutral" rating and a $41.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $34.44.

NuScale Power Price Performance

The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of -27.55 and a beta of 2.06. The firm has a 50 day simple moving average of $41.25 and a 200-day simple moving average of $27.59.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. On average, sell-side analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In related news, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the sale, the chief operating officer directly owned 90,864 shares in the company, valued at $4,033,452.96. This represents a 16.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Kaizen Financial Strategies bought a new position in shares of NuScale Power in the first quarter valued at approximately $204,000. Cambridge Investment Research Advisors Inc. increased its position 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 valued at $2,734,000 after acquiring an additional 46,744 shares during the last quarter. California State Teachers Retirement System increased its position in shares of NuScale Power by 17.9% during the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock valued at $1,429,000 after acquiring an additional 12,070 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of NuScale Power by 34.1% during the fourth quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock valued at $943,000 after acquiring an additional 13,373 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of NuScale Power by 6.9% during the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after acquiring an additional 833 shares during the last quarter. Institutional investors own 78.37% of the company's stock.

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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