NuScale Power (NYSE:SMR) Trading Down 5.7%

NuScale Power Co. (NYSE:SMR)’s share price traded down 5.7% during trading on Wednesday . The company traded as low as $10.64 and last traded at $10.85. 2,306,378 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 4,964,791 shares. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

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

NuScale Power Trading Up 4.1 %

The firm’s fifty day moving average price is $10.19 and its 200-day moving average price is $6.41. The company has a market cap of $2.64 billion, a P/E ratio of -12.74 and a beta of 1.25.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. During the same period in the previous year, the company posted ($0.16) earnings per share. As a group, research analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, insider Clayton Scott sold 7,191 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Robert K. Temple sold 23,806 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $6.07, for a total value of $144,502.42. Following the sale, the general counsel now owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now directly owns 43,549 shares in the company, valued at $263,035.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,131 shares of company stock worth $339,745. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in NuScale Power by 97.3% in the 2nd 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 during the last quarter. Catalina Capital Group LLC acquired a new stake in NuScale Power in the second quarter worth about $138,000. TFC Financial Management Inc. bought a new stake in NuScale Power during the 2nd quarter worth about $75,000. Hobbs Group Advisors LLC acquired a new position in NuScale Power during the 2nd quarter valued at about $311,000. Finally, Greylin Investment Management Inc bought a new position in shares of NuScale Power in the 2nd quarter valued at about $410,000. 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.