NuScale Power (NYSE:SMR) Receives “Underperform” Rating from Bank of America

Bank of America reiterated their underperform rating on shares of NuScale Power (NYSE:SMR) in a research report released on Tuesday morning, MarketBeat Ratings reports. They currently have a $34.00 target price on the stock, down from their previous target price of $38.00.

Several other research analysts also recently weighed in on the stock. Northland Capmk raised shares of NuScale Power to a “hold” rating in a report on Monday, July 7th. UBS Group upped their target price on shares of NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. BTIG Research downgraded shares of NuScale Power from a “buy” rating to a “neutral” rating in a report on Wednesday, June 25th. Royal Bank Of Canada began coverage on shares of NuScale Power in a report on Monday, September 15th. They issued a “sector perform” rating and a $35.00 target price for the company. Finally, Citigroup began coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a “neutral” rating and a $46.00 target price for the company. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Hold” and an average price target of $36.67.

NuScale Power Price Performance

Shares of SMR stock opened at $36.02 on Tuesday. NuScale Power has a 1 year low of $11.03 and a 1 year high of $53.50. The firm has a fifty day moving average price of $39.57 and a 200-day moving average price of $31.12. The company has a market cap of $10.26 billion, a price-to-earnings ratio of -30.27 and a beta of 2.03.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data 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 negative net margin of 221.07% and a positive return on equity of 2.61%. The business had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. Equities research analysts expect that NuScale Power will post -0.73 EPS for the current year.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the transaction, the chief financial officer owned 46,283 shares of the company’s stock, valued at $1,647,211.97. This represents a 39.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. This trade represents a 19.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,485,950 shares of company stock valued at $388,621,483 in the last three months. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Harbour Investments Inc. raised its position in shares of NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock valued at $46,000 after buying an additional 203 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of NuScale Power by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company’s stock valued at $824,000 after buying an additional 212 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of NuScale Power by 14.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company’s stock valued at $95,000 after buying an additional 341 shares in the last quarter. Rothschild Investment LLC raised its position in shares of NuScale Power by 45.2% during the 2nd quarter. Rothschild Investment LLC now owns 1,125 shares of the company’s stock valued at $45,000 after buying an additional 350 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after buying an additional 359 shares in the last quarter. 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.