NuScale Power (NYSE:SMR) Trading Down 7.4% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price fell 7.4% on Thursday . The company traded as low as $32.70 and last traded at $32.76. 7,276,523 shares were traded during trading, a decline of 19% from the average session volume of 8,983,408 shares. The stock had previously closed at $35.37.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SMR. BTIG Research reissued a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. CLSA set a $41.00 price target on NuScale Power and gave the stock an "outperform" rating in a report on Tuesday. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the stock a "buy" rating in a report on Thursday. Finally, UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, NuScale Power currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.57.

NuScale Power Trading Down 6.9%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a 50 day simple moving average of $18.45 and a two-hundred day simple moving average of $20.65. The firm has a market capitalization of $9.36 billion, a P/E ratio of -34.60 and a beta of 1.62.

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

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 1,565 shares of NuScale Power 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 completion of the sale, the vice president now owns 1,218 shares of the company's stock, valued at approximately $20,632.92. This trade represents a 56.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Lawrence Hopkins sold 26,345 shares of NuScale Power 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. Insiders have sold 184,392 shares of company stock worth $3,138,221 in the last ninety days. Company insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in NuScale Power by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after buying an additional 512,618 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock worth $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. Samsung C&T Corp purchased a new position in shares of NuScale Power during the fourth quarter worth about $46,745,000. Geode Capital Management LLC grew its holdings 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 worth $35,249,000 after purchasing an additional 135,613 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NuScale Power by 1,220.7% during 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 worth $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.