NuScale Power (NYSE:SMR) Shares Down 5% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) fell 5% during mid-day trading on Wednesday . The company traded as low as $29.66 and last traded at $30.19. 7,604,409 shares were traded during mid-day trading, a decline of 28% from the average session volume of 10,535,583 shares. The stock had previously closed at $31.79.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BTIG Research reiterated a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. UBS Group upped their target price on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. CLSA set a $41.00 price target on shares of NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Finally, Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

NuScale Power Price Performance

The firm has a 50-day simple moving average of $19.94 and a 200 day simple moving average of $20.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market cap of $8.85 billion, a PE ratio of -32.76 and a beta of 2.00.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. As a group, equities analysts expect that NuScale Power Co. will post -0.73 EPS for the current year.

Insider Buying and Selling

In other news, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the transaction, the vice president now directly owns 1,218 shares of the company's stock, valued at approximately $20,632.92. This represents a 56.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 159,774 shares of company stock valued at $2,780,768. Corporate insiders own 1.27% of the company's stock.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of SMR. Rhumbline Advisers grew its holdings in NuScale Power by 12.8% in the first quarter. Rhumbline Advisers now owns 125,708 shares of the company's stock valued at $1,780,000 after purchasing an additional 14,304 shares during the period. Geneos Wealth Management Inc. purchased a new stake in NuScale Power in the first quarter valued at $60,000. Integrity Alliance LLC. raised its position in NuScale Power by 56.3% in the first quarter. Integrity Alliance LLC. now owns 17,219 shares of the company's stock valued at $244,000 after purchasing an additional 6,200 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after purchasing an additional 1,705,411 shares during the period. Finally, Voleon Capital Management LP purchased a new stake in NuScale Power in the first quarter valued at $741,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.