NuScale Power (NYSE:SMR) Stock Price Down 10.1% - What's Next?

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price dropped 10.1% during trading on Tuesday . The company traded as low as $35.69 and last traded at $35.56. Approximately 5,584,157 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 9,824,848 shares. The stock had previously closed at $39.56.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a "neutral" rating in a report on Tuesday, May 20th. Citigroup began coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 target price for the company. CLSA set a $41.00 price objective on NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Finally, UBS Group increased their target price on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $31.57.

NuScale Power Trading Up 2.2%

The stock's 50 day moving average price is $29.27 and its 200 day moving average price is $22.61. The company has a market cap of $10.23 billion, a price-to-earnings ratio of -26.26 and a beta of 2.04.

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

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 1,565 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the sale, the vice president owned 1,218 shares of the company's stock, valued at $20,632.92. This trade represents a 56.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,278 shares of company stock valued at $1,786,990. 1.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SMR. Quantbot Technologies LP bought a new position in shares of NuScale Power in the first quarter valued at approximately $27,000. CoreCap Advisors LLC bought a new stake in NuScale Power in the 4th quarter valued at $33,000. Twin Tree Management LP acquired a new position in shares of NuScale Power in the 4th quarter valued at $42,000. NBC Securities Inc. boosted its position in shares of NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after acquiring an additional 3,309 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new position in NuScale Power in the first quarter worth about $50,000. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Company Profile

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.