NuScale Power (NYSE:SMR) Stock Price Down 2.8%

NuScale Power Co. (NYSE:SMR) dropped 2.8% during trading on Thursday . The company traded as low as $11.91 and last traded at $12.04. Approximately 4,442,890 shares changed hands during trading, a decline of 11% from the average daily volume of 4,966,305 shares. The stock had previously closed at $12.39.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SMR shares. B. Riley upped their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Craig Hallum assumed coverage on shares of NuScale Power in a report on Thursday, September 26th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, NuScale Power presently has a consensus rating of “Moderate Buy” and an average target price of $9.68.

NuScale Power Trading Down 5.2 %

The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.93 billion, a P/E ratio of -13.78 and a beta of 1.22. The business’s fifty day simple moving average is $9.37 and its two-hundred day simple moving average is $8.52.

NuScale Power (NYSE:SMR) last released its earnings results 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 analyst estimates of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same period last year, the business earned ($0.13) earnings per share.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the insider now owns 19,054 shares of the company’s stock, valued at approximately $190,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at $266,539.17. The disclosure for this sale can be found here. Insiders have sold 306,171 shares of company stock valued at $3,285,970 in the last 90 days. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after acquiring an additional 4,014 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of NuScale Power during the second quarter worth $64,000. TFC Financial Management Inc. acquired a new stake in shares of NuScale Power in the second quarter valued at $75,000. Resurgent Financial Advisors LLC raised its holdings in shares of NuScale Power by 100.0% in the first 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 during the last quarter. Finally, Evanson Asset Management LLC lifted its position in NuScale Power by 44.3% during the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after buying an additional 7,986 shares in the last quarter. Institutional investors and hedge funds 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.