NuScale Power (NYSE:SMR) Shares Down 7.1%

NuScale Power Co. (NYSE:SMR) shares were down 7.1% on Thursday . The stock traded as low as $6.77 and last traded at $6.81. Approximately 2,375,761 shares traded hands during trading, a decline of 44% from the average daily volume of 4,222,128 shares. The stock had previously closed at $7.33.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Canaccord Genuity Group began coverage on NuScale Power in a report on Monday, January 29th. They issued a “buy” rating and a $4.25 target price for the company. Finally, Canaccord Genuity Group boosted their price target on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.75.

NuScale Power Stock Up 16.6 %

The firm’s 50 day moving average is $5.87 and its 200-day moving average is $4.07.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The company had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. During the same period in the prior year, the business earned ($0.16) earnings per share. Research analysts forecast that NuScale Power Co. will post -0.64 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the transaction, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 59,768 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The disclosure for this sale can be found here. Insiders sold 115,899 shares of company stock valued at $590,771 in the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SMR. Swedbank AB acquired a new stake in shares of NuScale Power during the first quarter worth about $18,585,000. FMR LLC raised its holdings in NuScale Power by 11.2% during the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after purchasing an additional 301,548 shares in the last quarter. Rheos Capital Works Inc. purchased a new position in NuScale Power in the 1st quarter valued at $1,328,000. Vanguard Group Inc. raised its stake in shares of NuScale Power by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after buying an additional 204,505 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in NuScale Power by 5.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after purchasing an additional 172,408 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors.

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.