NuScale Power ( (SMR) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Claim 55% Off TipRanks
Trade SMR with leverageNuScale Power shares are under pressure as investors react to a securities-fraud class action accusing the company of overstating the capabilities of its commercialization partner, ENTRA1 Energy, after a $495 million payment that triggered heavy quarterly losses. Confidence is further shaken by the complete exit of key backer Fluor Corporation, which sold its remaining 40 million shares.
Adding to the negative sentiment, Citi has cut its price target on NuScale to $9, underscoring Wall Street’s growing doubts about the company’s execution and long-term project viability. Traders are watching closely ahead of the upcoming Q1 earnings report, looking for any signs that management can restore credibility and stabilize the business outlook.
More about NuScale Power
YTD Price Performance: -16.58%
Average Trading Volume: 27,291,381
Technical Sentiment Signal: Sell
Current Market Cap: $4.34B
For further insights into SMR stock on TipRanks’ Stock Analysis page.
See more of today’s top stock gainers and losers.