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

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SMR shares. UBS Group raised their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a "buy" rating in a report on Thursday. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Finally, BTIG Research reaffirmed a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.00.

NuScale Power Stock Performance

The stock has a market cap of $9.15 billion, a PE ratio of -33.85 and a beta of 1.62. The stock has a fifty day moving average of $19.00 and a 200-day moving average of $20.75. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

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

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 1,565 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $20,632.92. The trade was a 56.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 34,675 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the transaction, the chief executive officer now directly owns 49,019 shares in the company, valued at approximately $833,323. This trade represents a 41.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,392 shares of company stock worth $3,138,221. 1.27% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in shares of NuScale Power by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock valued at $191,000 after acquiring an additional 656 shares during the period. Deutsche Bank AG raised its holdings in NuScale Power by 0.9% during the first quarter. Deutsche Bank AG now owns 76,082 shares of the company's stock worth $1,077,000 after purchasing an additional 686 shares during the last quarter. Farther Finance Advisors LLC boosted its position in NuScale Power by 6.9% during 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 in the last quarter. Amalgamated Bank grew its holdings in NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after purchasing an additional 986 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in shares of NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock valued at $159,000 after buying an additional 1,260 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.