NuScale Power (NYSE:SMR) Stock Price Down 4% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s stock price fell 4% during mid-day trading on Thursday . The company traded as low as $17.58 and last traded at $18.31. 9,649,738 shares changed hands during trading, an increase of 83% from the average session volume of 5,262,387 shares. The stock had previously closed at $19.07.

Analyst Ratings Changes

SMR has been the topic of a number of recent analyst reports. B. Riley raised their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. CLSA assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. Finally, Craig Hallum upped their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Down 3.4 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market cap of $4.59 billion, a P/E ratio of -17.78 and a beta of 1.25. The stock’s 50-day moving average is $10.19 and its two-hundred day moving average is $9.07.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same quarter in the previous year, the business earned ($0.13) EPS.

Insiders Place Their Bets

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the sale, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert K. Temple sold 68,558 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $182,983.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,729 shares of company stock valued at $4,178,595 in the last three months. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in shares of NuScale Power in the fourth quarter valued at about $417,000. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power in the 1st quarter worth approximately $1,328,000. Evanson Asset Management LLC increased its holdings in NuScale Power by 44.3% during the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after buying an additional 7,986 shares during the period. SG Americas Securities LLC raised its stake in NuScale Power by 268.3% in the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after buying an additional 39,171 shares in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in NuScale Power during the first quarter worth $58,000. Institutional investors 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.