NuScale Power (NYSE:SMR) Trading Down 8.6% - What's Next?

Key Points

• NuScale Power's stock price fell 8.6% on Thursday, trading as low as $37.40, with a notable decline in trading volume.
• Analysts have mixed ratings on NuScale Power, with three analysts rating it a Buy while nine have given it a Hold rating; the average price target is now $36.20.
• After reporting quarterly earnings, NuScale missed expectations with an EPS of ($0.13) and a revenue of $8.05 million, below the estimated $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price fell 8.6% on Thursday . The company traded as low as $37.40 and last traded at $36.94. 8,075,610 shares were traded during trading, a decline of 31% from the average session volume of 11,688,227 shares. The stock had previously closed at $40.42.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SMR. Northland Securities began coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective on the stock. BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. BNP Paribas raised NuScale Power to a "hold" rating in a report on Friday, July 25th. Finally, Canaccord Genuity Group increased their target price on NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $36.20.

NuScale Power Stock Down 10.5%

The stock has a market cap of $10.31 billion, a PE ratio of -30.40 and a beta of 2.03. The firm has a fifty day moving average of $40.38 and a 200 day moving average of $28.40.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The company had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. On average, equities research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity

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 completion of the sale, the chief operating officer owned 90,864 shares in the company, valued at $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares of the company's stock, valued at approximately $1,647,211.97. The trade was a 39.83% decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its holdings in NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after buying an additional 203 shares in the last quarter. D.A. Davidson & CO. increased its holdings in NuScale Power by 1.0% in the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock valued at $824,000 after buying an additional 212 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in NuScale Power by 14.8% in the second quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company's stock valued at $95,000 after buying an additional 341 shares in the last quarter. Rothschild Investment LLC increased its holdings in NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after buying an additional 350 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after buying an additional 359 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Company Profile

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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