NuScale Power (NYSE:SMR) Earns Sell Rating from Citigroup

NuScale Power (NYSE:SMR)‘s stock had its “sell” rating reissued by stock analysts at Citigroup in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $37.50 target price on the stock, down from their previous target price of $46.00. Citigroup’s price objective would indicate a potential upside of 8.18% from the company’s current price.

Several other research analysts have also issued reports on the company. Royal Bank Of Canada initiated coverage on NuScale Power in a research report on Monday, September 15th. They issued a “sector perform” rating and a $35.00 target price for the company. Bank of America reiterated an “underperform” rating and issued a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of NuScale Power in a research report on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on shares of NuScale Power in a report on Tuesday. They set an “overweight” rating and a $55.00 target price on the stock. Finally, UBS Group increased their price target on shares of NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $37.73.

NuScale Power Trading Down 9.7%

Shares of SMR opened at $34.67 on Tuesday. NuScale Power has a 1-year low of $11.08 and a 1-year high of $57.42. The firm’s 50-day moving average price is $38.36 and its 200-day moving average price is $33.82. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of -29.13 and a beta of 2.02.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The company had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. On average, research analysts forecast that NuScale Power will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,048,847 shares of company stock worth $606,761,579 in the last ninety days. 1.27% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of NuScale Power in the first quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after acquiring an additional 359 shares during the last quarter. Indiana Trust & Investment Management Co purchased a new position in NuScale Power in the 3rd quarter worth approximately $34,000. Rothschild Investment LLC lifted its position in NuScale Power by 45.2% in the 2nd quarter. Rothschild Investment LLC now owns 1,125 shares of the company’s stock valued at $45,000 after acquiring an additional 350 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in NuScale Power by 21.3% in the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock valued at $46,000 after acquiring an additional 203 shares in the last quarter. 78.37% of the stock is currently owned by 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.