NuScale Power (NYSE:SMR) Stock Price Down 5.6% - Here's What Happened

Key Points

• NuScale Power shares fell 5.6% to about $10.21 in midday trading, with roughly 22.9 million shares changing hands.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $13.50; recent targets range from $6.50 to $16.00.
• The company matched quarterly EPS expectations at a loss of $0.13 but reported only $0.07 million in revenue, down 99.1% year over year and far below the $8.80 million analyst estimate.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares dropped 5.6% on Thursday . The stock traded as low as $10.10 and last traded at $10.2070. Approximately 22,939,635 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 30,785,109 shares. The stock had previously closed at $10.81.

Analysts Set New Price Targets

SMR has been the subject of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of NuScale Power in a report on Wednesday, June 24th. Northland Securities set a $16.00 target price on shares of NuScale Power in a research report on Thursday, August 6th. B. Riley Financial lowered their price target on NuScale Power from $19.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Royal Bank Of Canada decreased their target price on NuScale Power from $14.00 to $10.00 and set a "sector perform" rating for the company in a report on Tuesday, August 11th. Finally, Citigroup cut their price target on shares of NuScale Power from $7.50 to $6.50 and set a "sell" rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $13.50.

NuScale Power Trading Down 5.6%

The company has a market cap of $4.39 billion, a PE ratio of -3.50 and a beta of 2.30. The firm's fifty day moving average is $9.13 and its 200 day moving average is $10.65.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). The firm had revenue of $0.07 million during the quarter, compared to analysts' expectations of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The firm's revenue for the quarter was down 99.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,771 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares of the company's stock, valued at approximately $1,073,760.48. This represents a 14.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 29,880 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $9.39, for a total transaction of $280,573.20. Following the completion of the transaction, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. This represents a 19.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 68,651 shares of company stock worth $633,470. Company insiders own 1.28% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in shares of NuScale Power by 623.4% in the first quarter. Royal Bank of Canada now owns 457,276 shares of the company's stock valued at $6,475,000 after purchasing an additional 394,065 shares during the period. AQR Capital Management LLC lifted its holdings in shares of NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company's stock valued at $533,000 after buying an additional 10,244 shares during the period. Integrated Wealth Concepts LLC acquired a new position in NuScale Power during the first quarter worth $390,000. Jones Financial Companies Lllp boosted its position in shares of NuScale Power by 9.1% during the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company's stock worth $238,000 after purchasing an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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