NuScale Power (NYSE:SMR) Trading Down 3% After Analyst Downgrade

by · The Markets Daily

NuScale Power Corporation (NYSE:SMR – Get Free Report) was down 3% during mid-day trading on Tuesday after B. Riley lowered their price target on the stock from $38.00 to $24.00. B. Riley currently has a buy rating on the stock. NuScale Power traded as low as $15.77 and last traded at $15.9430. Approximately 17,602,605 shares were traded during trading, an increase of 15% from the average daily volume of 15,282,155 shares. The stock had previously closed at $16.43.

A number of other brokerages also recently commented on SMR. Citigroup reiterated 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. UBS Group set a $20.00 target price on shares of NuScale Power in a research report on Tuesday, November 25th. Zacks Research downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Royal Bank Of Canada reduced their price target on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Finally, Cantor Fitzgerald started coverage on NuScale Power in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $35.18.

Read Our Latest Report on SMR

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 965,049 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $37.67, for a total transaction of $36,353,395.83. Following the completion of the sale, the director owned 6,151,617 shares in the company, valued at approximately $231,731,412.39. The trade was a 13.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 7,930,587 shares of company stock valued at $309,070,052. Company insiders own 1.20% of the company’s stock.

Institutional Trading of NuScale Power

A number of hedge funds have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of NuScale Power by 7.8% in the third quarter. Allworth Financial LP now owns 10,492 shares of the company’s stock valued at $378,000 after purchasing an additional 758 shares during the period. IFP Advisors Inc lifted its holdings in NuScale Power by 128.3% in the 3rd quarter. IFP Advisors Inc now owns 3,984 shares of the company’s stock worth $143,000 after buying an additional 2,239 shares in the last quarter. Cantor Fitzgerald L. P. lifted its holdings in NuScale Power by 78.3% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 13,284 shares of the company’s stock worth $478,000 after buying an additional 5,834 shares in the last quarter. Strategic Advocates LLC purchased a new position in NuScale Power in the 3rd quarter valued at about $25,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new stake in shares of NuScale Power during the third quarter valued at about $94,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Stock Down 3.0%

The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -5.57 and a beta of 2.09. The firm has a 50 day moving average price of $27.95 and a two-hundred day moving average price of $35.46.

NuScale Power (NYSE:SMR – Get Free Report) last issued 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). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The business had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. During the same period in the prior year, the company posted ($0.18) EPS. The company’s revenue for the quarter was up 1635.2% on a year-over-year basis. Analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

NuScale Power Company Profile

(Get Free Report)

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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