NuScale Power (NYSE:SMR) Trading Down 2.3% - Here's What Happened

Key Points

• NuScale Power's stock fell 2.3% during trading, closing at $33.86, with a significant decrease in trading volume of about 60% from its average.
• Analyst consensus on NuScale Power is a "Hold" rating, with target prices ranging from $24.00 to $41.00, reflecting cautious investor sentiment.
• Despite a revenue of $8.05 million in its latest earnings report, NuScale Power missed analyst estimates, leading to a projected EPS of -0.73 for the year.

NuScale Power Corporation (NYSE:SMR - Get Free Report) traded down 2.3% on Tuesday . The stock traded as low as $32.60 and last traded at $33.86. 4,582,250 shares changed hands during trading, a decline of 60% from the average session volume of 11,490,603 shares. The stock had previously closed at $34.65.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group upped their target price on NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Bank of America assumed coverage on NuScale Power in a research note on Thursday, August 21st. They issued a "neutral" rating and a $36.00 price objective for the company. Northland Securities initiated coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 target price on the stock. BNP Paribas Exane initiated coverage on shares of NuScale Power in a report on Friday, July 25th. They set a "neutral" rating and a $41.00 target price on the stock. Finally, BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $36.20.

NuScale Power Stock Down 10.5%

The firm has a market cap of $10.31 billion, a price-to-earnings ratio of -30.40 and a beta of 2.03. The firm has a 50 day moving average of $40.34 and a 200 day moving average of $28.49.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company 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%. Equities analysts expect that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Activity at NuScale Power

In related news, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the transaction, the chief operating officer owned 90,864 shares of the company's stock, valued at approximately $4,033,452.96. This trade represents a 16.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the sale, the chief financial officer owned 46,283 shares of the company's stock, valued at $1,647,211.97. This trade represents a 39.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in SMR. Kaizen Financial Strategies purchased a new position in shares of NuScale Power in the 1st quarter worth approximately $204,000. Cambridge Investment Research Advisors Inc. raised its position in shares of NuScale Power by 31.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock valued at $2,734,000 after purchasing an additional 46,744 shares during the period. California State Teachers Retirement System grew its position in shares of NuScale Power by 17.9% in the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock valued at $1,429,000 after purchasing an additional 12,070 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of NuScale Power by 34.1% in the fourth quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock worth $943,000 after buying an additional 13,373 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock worth $189,000 after purchasing an additional 833 shares during the period. 78.37% of the stock is owned by 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.