NuScale Power (NYSE:SMR) Trading Down 1%

NuScale Power Co. (NYSE:SMR) shares dropped 1% during trading on Friday . The stock traded as low as $11.60 and last traded at $11.86. Approximately 2,308,313 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 4,601,482 shares. The stock had previously closed at $11.98.

Analyst Ratings Changes

SMR has been the subject of several recent research reports. B. Riley lifted their price target on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company restated an “underweight” rating and set a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. UBS Group boosted their target price on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group boosted their target price on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.15.

NuScale Power Stock Down 2.4 %

The company’s 50 day moving average price is $7.69 and its two-hundred day moving average price is $5.19. The stock has a market cap of $2.84 billion, a P/E ratio of -13.75 and a beta of 1.17.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The firm had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. As a group, equities research analysts forecast that NuScale Power Co. will post -0.64 earnings per share for the current year.

Insider Activity

In related news, General Counsel Robert K. Temple sold 8,873 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $53,592.92. Following the completion of the transaction, the general counsel now owns 42,860 shares of the company’s stock, valued at $258,874.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Robert K. Temple sold 8,873 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $53,592.92. Following the completion of the transaction, the general counsel now owns 42,860 shares of the company’s stock, valued at $258,874.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton Scott sold 7,191 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,131 shares of company stock valued at $339,745. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Large investors have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new position in NuScale Power in the fourth quarter worth approximately $25,000. Essex Private Wealth Management LLC acquired a new position in shares of NuScale Power during the fourth quarter worth $33,000. Sloy Dahl & Holst LLC acquired a new position in shares of NuScale Power during the fourth quarter worth $33,000. Arizona State Retirement System acquired a new position in shares of NuScale Power during the fourth quarter worth $34,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of NuScale Power during the fourth quarter worth $36,000. Institutional investors 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.