NuScale Power (NYSE:SMR) Shares Down 1.4% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) fell 1.4% on Wednesday . The stock traded as low as $17.03 and last traded at $17.56. 4,361,833 shares were traded during mid-day trading, a decline of 22% from the average session volume of 5,576,285 shares. The stock had previously closed at $17.81.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SMR shares. B. Riley increased their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Craig Hallum increased their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The stock has a 50 day moving average price of $11.24 and a two-hundred day moving average price of $9.56. The firm has a market cap of $4.57 billion, a PE ratio of -17.83 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 results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter in the previous year, the firm posted ($0.13) EPS.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert K. Temple sold 68,558 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the sale, the insider now directly owns 14,054 shares in the company, valued at $182,983.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 490,595 shares of company stock valued at $6,287,356. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SMR. Swedbank AB acquired a new stake in NuScale Power in the first quarter valued at approximately $18,585,000. Van ECK Associates Corp purchased a new position in NuScale Power during the second quarter valued at $7,600,000. Bank of New York Mellon Corp grew its position 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 purchasing an additional 137,382 shares during the period. Wedbush Securities Inc. increased its stake in shares of NuScale Power by 84.9% during the second quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock worth $2,205,000 after purchasing an additional 86,600 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after buying an additional 131,570 shares in the last quarter. 15.28% of the stock is owned by institutional investors and hedge funds.

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.