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

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

Several other brokerages also recently weighed in on SMR. Canaccord Genuity Group increased their price target on shares of NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. BNP Paribas Exane downgraded shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. Bank of America reaffirmed an “underperform” rating and set a $34.00 price target (down from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NuScale Power in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald began 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. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $37.73.

NuScale Power Price Performance

NYSE SMR opened at $30.43 on Friday. The company has a market cap of $8.67 billion, a price-to-earnings ratio of -10.64 and a beta of 2.03. The stock’s fifty day moving average price is $39.24 and its 200 day moving average price is $36.23. NuScale Power has a 1 year low of $11.08 and a 1 year high of $57.42.

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 firm had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 49.74%. The firm’s revenue for the quarter was up 1635.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.18) EPS. Research analysts expect that NuScale Power will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Corp Fluor sold 87,900 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,030,641 shares of company stock valued at $605,953,415 over the last quarter. 1.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC purchased a new stake in NuScale Power in the 3rd quarter worth $781,000. Wealthcare Advisory Partners LLC grew its position in shares of NuScale Power by 22.0% in the third quarter. Wealthcare Advisory Partners LLC now owns 8,221 shares of the company’s stock valued at $296,000 after purchasing an additional 1,484 shares during the period. MRA Advisory Group grew its position in shares of NuScale Power by 215.5% in the third quarter. MRA Advisory Group now owns 25,351 shares of the company’s stock valued at $913,000 after purchasing an additional 17,315 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of NuScale Power by 24.9% during the third quarter. PNC Financial Services Group Inc. now owns 8,388 shares of the company’s stock worth $302,000 after purchasing an additional 1,672 shares in the last quarter. Finally, Andar Capital Management HK Ltd acquired a new position in shares of NuScale Power during the 3rd quarter worth about $2,160,000. Institutional investors and hedge funds 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.