NuScale Power (NYSE:SMR) Trading Down 4.6% - Here's Why

Key Points

• NuScale Power's stock fell by 4.6% to $36.43 during trading, with a significant decline in trading volume compared to the average.
• Analysts have set a consensus price target of $34.44 for NuScale Power, with ratings ranging from "buy" to "hold."
• After a disappointing earnings report, insiders, including the COO, have sold shares, indicating potential concerns about the company’s future performance.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price traded down 4.6% during trading on Wednesday . The company traded as low as $36.74 and last traded at $36.43. 5,969,106 shares were traded during mid-day trading, a decline of 48% from the average session volume of 11,577,356 shares. The stock had previously closed at $38.17.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BNP Paribas raised NuScale Power to a "hold" rating in a report on Friday, July 25th. Citigroup started coverage on NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective for the company. UBS Group reaffirmed a "neutral" rating and issued a $38.00 price objective (up previously from $34.00) on shares of NuScale Power in a report on Monday. BNP Paribas Exane started coverage on NuScale Power in a report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price objective for the company. Finally, BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $34.44.

NuScale Power Price Performance

The company has a market capitalization of $10.04 billion, a PE ratio of -29.65 and a beta of 2.06. The company has a 50-day moving average of $41.18 and a two-hundred day moving average of $27.20.

NuScale Power (NYSE:SMR - Get Free Report) last released 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 company had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. As a group, research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

Insiders Place Their Bets

In related news, COO Carl M. Fisher sold 18,206 shares of NuScale Power 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 transaction, the chief operating officer directly owned 90,864 shares in the company, valued at approximately $4,033,452.96. The trade was a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently bought and sold shares of SMR. Quantbot Technologies LP purchased a new position in shares of NuScale Power in the first quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 acquiring an additional 359 shares in the last quarter. CoreCap Advisors LLC purchased a new position in shares of NuScale Power in the fourth quarter valued at about $33,000. Rothschild Investment LLC lifted its position in shares of 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 acquiring an additional 350 shares in the last quarter. Finally, NBC Securities Inc. lifted its position in shares of NuScale Power by 165,450.0% in the first 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. 78.37% of the stock is currently owned by hedge funds and other 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.