NuScale Power (NYSE:SMR) Trading Down 2.1% - Here's What Happened

Key Points

• NuScale Power's stock fell by 2.1% to $35.18 after reaching a low of $34.43, with trading volume down 71% from its average daily volume.
• Equities analysts have provided mixed ratings, with a consensus rating of "Hold" and increased price targets, suggesting potential growth for the stock.
• NuScale Power reported a quarterly earnings miss with a loss of ($0.13) per share, below the consensus estimate, and revenue below analyst expectations at $8.05 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report) was down 2.1% during trading on Friday . The company traded as low as $34.43 and last traded at $35.18. Approximately 3,400,096 shares traded hands during trading, a decline of 71% from the average daily volume of 11,572,789 shares. The stock had previously closed at $35.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SMR shares. BNP Paribas upgraded NuScale Power to a "hold" rating in a research note on Friday, July 25th. Canaccord Genuity Group raised their price target on shares of NuScale Power from $36.00 to $44.00 and gave the company a "buy" rating in a research note on Monday. CLSA set a $41.00 target price on shares of NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. Finally, UBS Group upped their price target on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, NuScale Power has a consensus rating of "Hold" and a consensus price target of $34.44.

NuScale Power Price Performance

The stock's fifty day moving average price is $41.28 and its 200-day moving average price is $27.31. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of -29.86 and a beta of 2.06.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly 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 business had revenue of $8.05 million for 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%. As a group, equities research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity

In other news, COO Carl M. Fisher sold 18,206 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were 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 $4,033,452.96. The trade was a 16.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kaizen Financial Strategies bought a new position in NuScale Power in the 1st quarter worth $204,000. Cambridge Investment Research Advisors Inc. grew its position in NuScale Power by 31.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock worth $2,734,000 after purchasing an additional 46,744 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of NuScale Power by 17.9% during the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock worth $1,429,000 after purchasing an additional 12,070 shares during the period. Geode Capital Management LLC raised its position in shares of NuScale Power by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock valued at $35,249,000 after buying an additional 135,613 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in NuScale Power by 34.1% in the 4th quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock valued at $943,000 after acquiring an additional 13,373 shares in the last quarter. 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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