Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) fell 1.3% on Monday . The stock traded as low as $34.15 and last traded at $35.41. 2,685,877 shares were traded during trading, a decline of 73% from the average session volume of 9,871,830 shares. The stock had previously closed at $35.88.
Analyst Ratings Changes
Several brokerages have recently weighed in on SMR. Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Northland Securities began coverage on NuScale Power in a research note on Monday. They set a "market perform" rating and a $35.00 target price for the company. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Finally, BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $32.00.
Check Out Our Latest Stock Analysis on SMR
NuScale Power Trading Up 2.6%
The firm has a market capitalization of $10.47 billion, a PE ratio of -26.88 and a beta of 2.04. The business has a fifty day moving average price of $30.45 and a two-hundred day moving average price of $22.98.
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 for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. The business had revenue of $13.38 million during the quarter, compared to analysts' expectations of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. On average, equities analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.
Insider Activity at NuScale Power
In related news, CEO John Lawrence Hopkins sold 34,675 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the completion of the transaction, the chief executive officer directly owned 49,019 shares in the company, valued at $833,323. This trade represents a 41.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 1,565 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.94, for a total value of $26,511.10. Following the transaction, the vice president owned 1,218 shares of the company's stock, valued at $20,632.92. This trade represents a 56.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,278 shares of company stock worth $1,786,990 in the last three months. 1.96% of the stock is owned by company insiders.
Hedge Funds Weigh In On NuScale Power
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in NuScale Power during the 1st quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. raised its position in NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after purchasing an additional 359 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in NuScale Power in the 4th quarter valued at about $33,000. Twin Tree Management LP acquired a new stake in NuScale Power in the 4th quarter valued at about $42,000. Finally, NBC Securities Inc. raised its position in 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 purchasing 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
(
Get Free Report)
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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