NuScale Power (NYSE:SMR) Stock Price Down 0.5%

NuScale Power Co. (NYSE:SMR) shares dropped 0.5% during mid-day trading on Tuesday . The stock traded as low as $9.35 and last traded at $9.45. Approximately 2,013,612 shares traded hands during trading, a decline of 60% from the average daily volume of 5,037,259 shares. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

Separately, B. Riley boosted their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.15.

NuScale Power Stock Up 1.2 %

The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -11.12 and a beta of 1.24. The business’s 50-day simple moving average is $10.32 and its two-hundred day simple moving average is $6.57.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. The business had revenue of $1.38 million for the quarter, compared to analysts’ expectations of $3.15 million. During the same period in the previous year, the firm posted ($0.16) EPS. On average, analysts expect that NuScale Power Co. will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $43,433.64. Following the completion of the sale, the insider now directly owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Robert K. Temple sold 8,873 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $53,592.92. Following the transaction, the general counsel now owns 42,860 shares of the company’s stock, valued at approximately $258,874.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $43,433.64. Following the transaction, the insider now owns 43,549 shares of the company’s stock, valued at $263,035.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,131 shares of company stock valued at $339,745. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of NuScale Power by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after acquiring an additional 204,505 shares during the period. Swedbank AB purchased a new stake in NuScale Power in the first quarter valued at approximately $18,585,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in NuScale Power by 5.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock worth $11,159,000 after purchasing an additional 172,408 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after buying an additional 137,382 shares in the last quarter. Finally, Rheos Capital Works Inc. purchased a new stake in NuScale Power during the first quarter worth about $1,328,000. 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.