NuScale Power (NYSE:SMR) Shares Down 6.7% Following Analyst Downgrade

Shares of NuScale Power Corporation (NYSE:SMR) dropped 6.7% during trading on Monday after Royal Bank Of Canada lowered their price target on the stock from $35.00 to $32.00. Royal Bank Of Canada currently has a sector perform rating on the stock. NuScale Power traded as low as $27.56 and last traded at $28.30. Approximately 31,261,969 shares traded hands during trading, an increase of 121% from the average daily volume of 14,130,960 shares. The stock had previously closed at $30.34.

Several other equities analysts have also recently weighed in on SMR. Cantor Fitzgerald initiated coverage on NuScale Power in a report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price objective for the company. Barclays initiated coverage on 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. Wall Street Zen downgraded NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America reissued an “underperform” rating and issued a $34.00 price objective (down from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NuScale Power in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $37.50.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 87,900 shares of NuScale Power stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 15,030,641 shares of company stock valued at $605,953,415 over the last three months. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of large investors have recently modified their holdings of the business. Delta Accumulation LLC bought a new position in NuScale Power in the third quarter valued at $173,000. Bleakley Financial Group LLC raised its stake in shares of NuScale Power by 1.9% during the third quarter. Bleakley Financial Group LLC now owns 45,009 shares of the company’s stock valued at $1,620,000 after acquiring an additional 828 shares during the last quarter. Clear Creek Financial Management LLC increased its stake in shares of NuScale Power by 8.6% during the third quarter. Clear Creek Financial Management LLC now owns 38,343 shares of the company’s stock valued at $1,380,000 after buying an additional 3,049 shares during the period. Axxcess Wealth Management LLC purchased a new stake in shares of NuScale Power in the 3rd quarter worth about $781,000. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of NuScale Power by 22.0% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 8,221 shares of the company’s stock valued at $296,000 after buying an additional 1,484 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

NuScale Power Price Performance

The firm has a market cap of $8.06 billion, a PE ratio of -9.90 and a beta of 2.03. The stock has a 50 day simple moving average of $39.24 and a 200-day simple moving average of $36.23.

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

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.