NuScale Power (NYSE:SMR) Stock Price Down 3.9% - Here's Why

Key Points

• NuScale Power's stock price fell by 3.9% on Tuesday, trading down to $33.61, with a volume decline of 73% from its average session volume.
• Several analysts have updated their ratings, with Canaccord Genuity Group raising their price target from $36.00 to $44.00, while BTIG Research downgraded the stock to a "neutral" rating.
• NuScale Power reported a loss of ($0.13) earnings per share for the last quarter, missing expectations and showing a negative net margin of 221.07%.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price traded down 3.9% on Tuesday . The stock traded as low as $33.93 and last traded at $33.61. 3,127,418 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 11,524,618 shares. The stock had previously closed at $34.98.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group upped their target price on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Northland Securities initiated coverage on shares of NuScale Power in a report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective for the company. Canaccord Genuity Group increased their price objective on shares of NuScale Power from $36.00 to $44.00 and gave the company a "buy" rating in a report on Monday, August 11th. BNP Paribas Exane initiated coverage on shares of NuScale Power in a report on Friday, July 25th. They set a "neutral" rating and a $41.00 price objective for the company. Finally, BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $34.44.

NuScale Power Stock Performance

The stock has a market cap of $9.49 billion, a P/E ratio of -28.06 and a beta of 2.06. The stock's fifty day moving average is $41.29 and its 200 day moving average is $27.55.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value 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 trade represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Quantbot Technologies LP purchased a new position in NuScale Power in the first quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after purchasing an additional 359 shares in the last quarter. CoreCap Advisors LLC acquired a new position in NuScale Power during the fourth quarter worth about $33,000. Rothschild Investment LLC boosted its holdings in NuScale Power by 45.2% in the 2nd quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after purchasing an additional 350 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in shares of NuScale Power by 165,450.0% in 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 during the period. Hedge funds and other 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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