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

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

A number of other equities analysts also recently weighed in on the stock. Bank of America reaffirmed an “underperform” rating and set a $34.00 target price (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Weiss Ratings restated a “sell (e+)” rating on shares of NuScale Power in a report on Wednesday, October 8th. UBS Group upped 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. BNP Paribas Exane cut shares of NuScale Power from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 21st. Finally, Citigroup reaffirmed a “sell” rating and set a $37.50 price target (down from $46.00) on shares of NuScale Power in a report 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 stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $37.73.

NuScale Power Trading Down 6.3%

Shares of SMR stock traded down $2.04 during trading hours on Friday, hitting $30.43. 42,179,870 shares of the company’s stock were exchanged, compared to its average volume of 26,208,580. The company has a market capitalization of $8.67 billion, a PE ratio of -10.64 and a beta of 2.03. The business’s 50 day simple moving average is $39.24 and its 200-day simple moving average is $35.94. NuScale Power has a 12-month low of $11.08 and a 12-month high of $57.42.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The firm 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 company’s quarterly revenue was up 1635.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Equities analysts anticipate that NuScale Power will post -0.73 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total value of $3,479,082.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 15,030,641 shares of company stock worth $605,953,415 over the last three months. 1.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently made changes to their positions in the company. Private Wealth Partners LLC raised its position in shares of NuScale Power by 39.4% during the 2nd quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock valued at $910,000 after buying an additional 6,500 shares in the last quarter. Truist Financial Corp lifted its stake in shares of NuScale Power by 23.3% in the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock valued at $1,885,000 after purchasing an additional 9,016 shares during the last quarter. Black Swift Group LLC purchased a new position in shares of NuScale Power in the 2nd quarter worth approximately $585,000. State of New Jersey Common Pension Fund D purchased a new position in shares of NuScale Power in the 2nd quarter worth approximately $2,943,000. Finally, Balboa Wealth Partners bought a new position in shares of NuScale Power during the 2nd quarter valued at approximately $466,000. 78.37% of the stock is 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.