NuScale Power (NYSE:SMR) Rating Lowered to Sell at Wall Street Zen

NuScale Power (NYSE:SMR) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued research reports about the stock. UBS Group raised their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Barclays began coverage on shares of NuScale Power in a research note on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective for the company. Canaccord Genuity Group raised their price objective on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. BNP Paribas lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, Citigroup reiterated a “sell” rating and set a $37.50 price objective (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $37.73.

NuScale Power Stock Down 6.3%

SMR stock traded down $2.04 during trading on Friday, hitting $30.43. The company had a trading volume of 42,179,870 shares, compared to its average volume of 26,208,580. NuScale Power has a 52-week low of $11.08 and a 52-week high of $57.42. The company has a 50 day simple moving average of $39.24 and a 200-day simple moving average of $35.94. The firm has a market capitalization of $8.67 billion, a P/E ratio of -10.64 and a beta of 2.03.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The company had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 49.74%. The business’s revenue was up 1635.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) EPS. Sell-side analysts forecast that NuScale Power will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the business’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 15,030,641 shares of company stock worth $605,953,415. Insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently bought and sold shares of the company. CX Institutional purchased a new position in NuScale Power during the 3rd quarter worth approximately $25,000. Quantbot Technologies LP purchased a new stake in shares of NuScale Power in the 1st quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after purchasing an additional 359 shares during the period. Indiana Trust & Investment Management Co purchased a new stake in NuScale Power in the third quarter valued at $34,000. Finally, Ameritas Advisory Services LLC grew its position in NuScale Power by 292.9% during the 3rd quarter. Ameritas Advisory Services LLC now owns 1,100 shares of the company’s stock worth $40,000 after purchasing an additional 820 shares during the period. Hedge funds and other institutional investors own 78.37% 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.