NuScale Power (NYSE:SMR) Stock Price Down 4.6%

NuScale Power Co. (NYSE:SMR - Get Free Report) shares traded down 4.6% during mid-day trading on Monday . The company traded as low as $4.99 and last traded at $5.03. 1,303,456 shares traded hands during trading, a decline of 71% from the average session volume of 4,421,702 shares. The stock had previously closed at $5.27.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group upped their price target on shares of NuScale Power from $2.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, March 19th. Canaccord Genuity Group raised their price target on NuScale Power from $4.25 to $8.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Canaccord Genuity Group began coverage on shares of NuScale Power in a research report on Monday, January 29th. They set a "buy" rating and a $4.25 price objective for the company. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $7.75.

NuScale Power Price Performance

The business's 50-day simple moving average is $4.50 and its 200-day simple moving average is $3.73. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -6.00 and a beta of 1.06.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The company had revenue of $4.56 million during the quarter, compared to analysts' expectations of $1.75 million. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. As a group, sell-side analysts forecast that NuScale Power Co. will post -0.41 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.06% 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 SMR. BlackRock Inc. boosted its stake in shares of NuScale Power by 63.8% during the 2nd quarter. BlackRock Inc. now owns 3,167,555 shares of the company's stock valued at $21,539,000 after buying an additional 1,233,898 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NuScale Power by 54.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company's stock worth $15,774,000 after purchasing an additional 1,132,131 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of NuScale Power in the 2nd quarter valued at about $10,090,000. FMR LLC grew its stake in NuScale Power by 55.0% in the first quarter. FMR LLC now owns 2,405,757 shares of the company's stock worth $21,868,000 after purchasing an additional 853,569 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in NuScale Power by 68.3% during the second quarter. Geode Capital Management LLC now owns 865,610 shares of the company's stock valued at $5,886,000 after buying an additional 351,171 shares in the last quarter. Institutional investors and hedge funds own 15.28% 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.