NuScale Power (NYSE:SMR) Shares Down 1.8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price was down 1.8% during trading on Tuesday . The stock traded as low as $22.30 and last traded at $23.42. Approximately 5,544,179 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 12,213,779 shares. The stock had previously closed at $23.85.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.42.

NuScale Power Stock Down 5.2 %

The company has a market cap of $5.94 billion, a P/E ratio of -24.49 and a beta of 1.51. The company has a 50-day simple moving average of $22.22 and a 200 day simple moving average of $16.94. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same period last year, the firm earned ($0.26) earnings per share.

Insider Buying and Selling

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, the vice president now owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in NuScale Power during the 4th quarter worth approximately $2,755,000. Arizona State Retirement System increased its position in shares of NuScale Power by 21.3% in the 4th quarter. Arizona State Retirement System now owns 24,739 shares of the company’s stock valued at $444,000 after acquiring an additional 4,344 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in NuScale Power during the 4th quarter worth about $800,000. Victory Capital Management Inc. grew its stake in NuScale Power by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after purchasing an additional 656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NuScale Power by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 735,383 shares of the company’s stock valued at $13,185,000 after purchasing an additional 58,135 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.