NuScale Power (NYSE:SMR) Stock Price Down 8.2%

Shares of NuScale Power Co. (NYSE:SMR) dropped 8.2% during trading on Monday . The company traded as low as $10.73 and last traded at $10.73. Approximately 2,207,042 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 4,641,428 shares. The stock had previously closed at $11.69.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SMR shares. Wells Fargo & Company restated an “underweight” rating and issued a $4.50 price objective (down from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. B. Riley increased their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. UBS Group boosted their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Finally, Canaccord Genuity Group upped their target price on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, NuScale Power presently has a consensus rating of “Hold” and a consensus target price of $8.15.

NuScale Power Price Performance

The stock has a fifty day simple moving average of $7.92 and a 200-day simple moving average of $5.31. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -12.86 and a beta of 1.24.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.15 million. During the same period in the previous year, the business earned ($0.16) earnings per share. As a group, equities analysts expect that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Robert K. Temple sold 23,806 shares of the company’s stock in a transaction 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 completion of the sale, the general counsel now 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 through this link. In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the transaction, the insider now owns 43,549 shares of the company’s stock, valued at $263,035.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $6.07, for a total value of $144,502.42. Following the completion of the sale, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The disclosure for this sale can be found here. Insiders have sold a total of 56,131 shares of company stock worth $339,745 over the last quarter. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SMR. Global Retirement Partners LLC purchased a new stake in shares of NuScale Power in the 4th quarter valued at approximately $25,000. Mesirow Financial Investment Management Inc. acquired a new position in NuScale Power during the first quarter worth $53,000. Essex Private Wealth Management LLC acquired a new position in NuScale Power during the fourth quarter worth $33,000. Sloy Dahl & Holst LLC purchased a new position in shares of NuScale Power during the fourth quarter worth $33,000. Finally, Arizona State Retirement System acquired a new stake in shares of NuScale Power in the fourth quarter valued at $34,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.