Why NuScale Power Stock Tumbled 33% Today [Yahoo! Finance]
NuScale Power Corporation (SMR)
Company Research
Source: Yahoo! Finance
Today, though, a different investment bank -- Wells Fargo -- pointed out how crazy that momentum rally looked. Now, NuScale stock is dropping 33% as of 11:45 a.m. ET. What Wells Fargo said NuScale stock had already tripled this year, as Wells Fargo points out today in a note on StreetInsider.com. The fact that this happened even though NuScale reported a big net loss last week -- more than $180 million lost for all of 2023 -- is bad enough, meaning investors may not have understood the import of the bad earnings news. But Wells Fargo's explanation of the situation is even worse than that. "We think investor enthusiasm for SMR is misguided," warns Wells. NuScale's VOYGR nuclear power product has "no secure customers" and is "not cost competitive" says the analyst. To emphasize the point, Wells downgraded NuScale stock to underweight (i.e., sell) and assigned the stock the very same $4.50 price target that Cannacord had raised it from yesterday. Wells Fargo basically is saying th
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News
- Global Small Modular Reactor Market for Data Centers Industry Report 2024: A $278 Billion Market by 2028, Growing at a CAGR of 48.72% Driven by Burgeoning Demand for Energy Security and Sustainability [Yahoo! Finance]Yahoo! Finance
- NuScale Power to Hold First Quarter 2024 Earnings Conference Call on May 9, 2024Business Wire
- Seizing the New Nuclear Opportunity - Reuters Events: SMR & Advanced Reactor 2024 Returns to Atlanta in Just Three Weeks [Yahoo! Finance]Yahoo! Finance
- NuScale Power Shows Too Many Red Flags [Seeking Alpha]Seeking Alpha
- NuScale Power: Attractive, Yet High-Risk Nuclear Energy Business [Seeking Alpha]Seeking Alpha
SMR
Sec Filings
- 4/26/24 - Form DEFR14A
- 4/12/24 - Form DEF
- 4/11/24 - Form 8-K
- SMR's page on the SEC website