NuScale Power (NYSE:SMR) Stock Price Down 11% - What's Next?

Key Points

• NuScale Power's stock price fell by 11% during Thursday's trading, closing at $47.55 after reaching a low of $47.51.
• Analysts have assigned an average rating of "Hold" for NuScale Power, with a consensus price target of $36.67 amidst varying ratings from different research firms.
• Insiders have sold around 15 million shares of NuScale Power recently, indicating significant insider activity, with corporate insiders now owning just 1.27% of the company.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was down 11% during trading on Thursday . The stock traded as low as $47.51 and last traded at $47.55. Approximately 40,422,065 shares changed hands during mid-day trading, an increase of 204% from the average daily volume of 13,291,897 shares. The stock had previously closed at $53.43.

Wall Street Analyst Weigh In

Several equities analysts have commented on SMR shares. Citigroup started coverage on NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NuScale Power in a research report on Wednesday, October 8th. Northland Capmk raised NuScale Power to a "hold" rating in a research report on Monday, July 7th. BNP Paribas Exane assumed coverage on NuScale Power in a research report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price objective on the stock. Finally, Northland Securities assumed coverage on NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price for the company. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.67.

NuScale Power Stock Performance

The firm has a market capitalization of $13.55 billion, a PE ratio of -39.96 and a beta of 2.02. The company has a fifty day simple moving average of $38.14 and a two-hundred day simple moving average of $32.86.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. On average, equities analysts anticipate 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, Director Corp Fluor sold 87,900 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 15,048,847 shares of company stock worth $606,761,579. Corporate insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in NuScale Power in the first quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after buying an additional 359 shares during the last quarter. Rothschild Investment LLC raised its stake in NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after buying an additional 350 shares during the last quarter. Harbour Investments Inc. raised its stake in NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after buying an additional 203 shares during the last quarter. Finally, Stone House Investment Management LLC purchased a new position in shares of NuScale Power in the first quarter worth about $50,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

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