NuScale Power (NYSE:SMR) Trading Down 1.4%

NuScale Power Co. (NYSE:SMR) dropped 1.4% on Monday . The stock traded as low as $9.05 and last traded at $9.14. Approximately 1,499,970 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 5,051,065 shares. The stock had previously closed at $9.27.

Analysts Set New Price Targets

Separately, B. Riley boosted their price objective 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.15.

NuScale Power Stock Performance

The company’s 50 day simple moving average is $10.48 and its 200-day simple moving average is $7.00. The firm has a market capitalization of $2.24 billion, a PE ratio of -10.75 and a beta of 1.25.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.43 million. NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, equities research analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the sale, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sloy Dahl & Holst LLC purchased a new position in shares of NuScale Power in the fourth quarter worth $33,000. Arizona State Retirement System purchased a new stake in NuScale Power during the fourth quarter valued at approximately $34,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of NuScale Power in the 4th quarter valued at approximately $36,000. Peregrine Asset Advisers Inc. bought a new position in shares of NuScale Power during the 4th quarter valued at approximately $39,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in NuScale Power during the 1st quarter valued at $53,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.