NuScale Power (NYSE:SMR) Stock Price Down 9.1% - What's Next?

Key Points

• NuScale Power shares fell 9.1% on Thursday, trading as low as $7.52 after closing at $8.36, with volume slightly below average. The move came amid continued volatility in the stock.
• Analyst sentiment remains mixed, with an average Hold rating and a consensus price target of $15.46. Recent calls ranged from Weiss Ratings’ sell rating to Truist and HSBC initiating hold ratings, while Northland and B. Riley kept higher targets.
• The company’s latest earnings showed weak fundamentals, including a wider-than-expected loss of $0.14 per share and revenue of just $0.56 million versus the $7.00 million estimate. NuScale also reported a steep year-over-year revenue decline and negative margins, underscoring ongoing execution challenges.

NuScale Power Corporation (NYSE:SMR - Get Free Report) was down 9.1% during trading on Thursday . The company traded as low as $7.52 and last traded at $7.6010. Approximately 28,786,961 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 30,312,762 shares. The stock had previously closed at $8.36.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NuScale Power in a report on Wednesday, June 24th. Northland Securities set a $19.00 target price on shares of NuScale Power in a research report on Monday, May 11th. Truist Financial started coverage on shares of NuScale Power in a research note on Monday. They set a "hold" rating and a $10.00 target price for the company. HSBC initiated coverage on shares of NuScale Power in a report on Thursday, April 23rd. They issued a "hold" rating and a $13.00 price target on the stock. Finally, B. Riley Financial decreased their price target on shares of NuScale Power from $24.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.46.

NuScale Power Trading Down 9.1%

The firm has a market cap of $2.78 billion, a P/E ratio of -2.60 and a beta of 2.24. The stock has a 50 day simple moving average of $10.77 and a 200-day simple moving average of $12.98.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. The company's quarterly revenue was down 95.8% on a year-over-year basis. As a group, equities analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.28% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NuScale Power by 35.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company's stock worth $11,659,000 after purchasing an additional 213,329 shares during the period. Swedbank AB increased its position in NuScale Power by 36.3% during the first quarter. Swedbank AB now owns 1,502,300 shares of the company's stock valued at $16,285,000 after acquiring an additional 400,240 shares during the last quarter. Caz Investments LP raised its stake in shares of NuScale Power by 10,000.0% in the fourth quarter. Caz Investments LP now owns 101,000 shares of the company's stock valued at $1,431,000 after acquiring an additional 100,000 shares during the period. Seven Grand Managers LLC bought a new stake in shares of NuScale Power in the 4th quarter worth about $1,771,000. Finally, RPG Investment Advisory LLC purchased a new position in shares of NuScale Power during the 4th quarter worth about $10,925,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.