NuScale Power (NYSE:SMR) Shares Down 10.1%

NuScale Power Co. (NYSE:SMR - Get Free Report) shares dropped 10.1% during trading on Thursday . The stock traded as low as $6.06 and last traded at $6.30. Approximately 3,532,294 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 4,156,267 shares. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

SMR has been the topic of several research reports. UBS Group raised their target price on NuScale Power from $2.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, March 19th. Wells Fargo & Company restated an "underweight" rating and issued a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Canaccord Genuity Group initiated coverage on NuScale Power in a research report on Monday, January 29th. They issued a "buy" rating and a $4.25 target price on the stock. Finally, Canaccord Genuity Group raised their target price on NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.75.

NuScale Power Price Performance

The stock has a 50 day simple moving average of $5.77 and a two-hundred day simple moving average of $3.90. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.51 and a beta of 0.98.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. The business had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. During the same quarter in the prior year, the company posted ($0.16) EPS. As a group, research analysts forecast that NuScale Power Co. will post -0.64 EPS for the current year.

Insider Activity

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the company's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the company's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $95,287.04. Following the completion of the transaction, the chief technology officer now directly owns 478,306 shares of the company's stock, valued at approximately $2,888,968.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 59,768 shares of the company's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The disclosure for this sale can be found here. Insiders have sold a total of 115,899 shares of company stock valued at $590,771 in the last quarter. Insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMR. SG Americas Securities LLC acquired a new position in shares of NuScale Power during the 3rd quarter worth about $143,000. Raymond James & Associates acquired a new position in shares of NuScale Power during the 3rd quarter worth about $439,000. Bank of New York Mellon Corp boosted its position in shares of NuScale Power by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 148,639 shares of the company's stock worth $728,000 after acquiring an additional 2,844 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NuScale Power by 153.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,064 shares of the company's stock worth $133,000 after acquiring an additional 16,371 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of NuScale Power in the 3rd quarter valued at about $79,000. 15.28% of the stock is owned by institutional investors and hedge funds.

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.

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