NuScale Power (NYSE:SMR) Trading Down 7.5% – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) dropped 7.5% during mid-day trading on Thursday . The stock traded as low as $19.01 and last traded at $19.24. Approximately 4,121,975 shares traded hands during trading, a decline of 29% from the average daily volume of 5,835,251 shares. The stock had previously closed at $20.80.

Analyst Ratings Changes

SMR has been the subject of a number of research reports. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. 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 research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Down 5.9 %

The business’s fifty day moving average is $12.17 and its 200 day moving average is $10.01. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -18.68 and a beta of 1.25. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27.

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

Insider Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 value of $153,551.16. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the sale, the chief operating officer now owns 30,323 shares of the company’s stock, valued at $266,539.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of SMR. SG Americas Securities LLC increased its position 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 during the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of NuScale Power in the first quarter valued at approximately $58,000. Resurgent Financial Advisors LLC lifted its stake in shares of NuScale Power by 100.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after buying an additional 7,400 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in NuScale Power by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after buying an additional 4,014 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in NuScale Power during the 1st quarter valued at $98,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.