NuScale Power (NYSE:SMR) Shares Down 8.2%

NuScale Power Co. (NYSE:SMR)’s share price dropped 8.2% on Monday . The company traded as low as $10.73 and last traded at $10.73. Approximately 2,207,042 shares were traded 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 Analysts Forecast Growth

SMR has been the topic of a number of research reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $4.50 price target (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Canaccord Genuity Group raised their price target on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 18th. B. Riley raised their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group raised their price target on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and a consensus target price of $8.15.

NuScale Power Trading Down 6.4 %

The company has a market cap of $2.66 billion, a price-to-earnings ratio of -12.62 and a beta of 1.24. The stock’s fifty day simple moving average is $7.69 and its 200 day simple moving average is $5.21.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). The company had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same quarter in the prior year, the firm earned ($0.16) EPS. On average, analysts predict that NuScale Power Co. will post -0.64 EPS for the current year.

Insider Transactions at NuScale Power

In other news, insider Clayton Scott sold 7,191 shares of the firm’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 transaction of $43,433.64. Following the completion of the sale, the insider now owns 43,549 shares in the company, valued at approximately $263,035.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Robert K. Temple sold 8,873 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction 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 approximately $258,874.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the 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 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. Insiders sold 56,131 shares of company stock worth $339,745 in the last 90 days. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in shares of NuScale Power during the 4th quarter worth $25,000. Essex Private Wealth Management LLC acquired a new stake in NuScale Power during the 4th quarter worth $33,000. Mesirow Financial Investment Management Inc. acquired a new position in NuScale Power in the first quarter valued at $53,000. Sloy Dahl & Holst LLC acquired a new position in NuScale Power in the fourth quarter valued at $33,000. Finally, Arizona State Retirement System acquired a new position in NuScale Power in the fourth quarter valued at $34,000. Hedge funds and other 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.