Royal Bank Of Canada Issues Pessimistic Forecast for NuScale Power (NYSE:SMR) Stock Price

NuScale Power (NYSE:SMR) had its price target dropped by Royal Bank Of Canada from $35.00 to $32.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 19.98% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup reissued a “sell” rating and set a $37.50 price objective (down from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. Bank of America reiterated an “underperform” rating and set a $34.00 price target (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 research note on Wednesday, October 8th. Canaccord Genuity Group lifted their target price on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen downgraded shares of NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $37.50.

NuScale Power Stock Performance

Shares of SMR stock opened at $26.67 on Monday. NuScale Power has a fifty-two week low of $11.08 and a fifty-two week high of $57.42. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of -9.33 and a beta of 2.03. The stock’s 50-day simple moving average is $38.90 and its 200-day simple moving average is $36.38.

NuScale Power (NYSE:SMR) last released its 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 company had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm’s revenue for the quarter was up 1635.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) earnings per share. As a group, equities analysts forecast that NuScale Power will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the company’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 document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 15,030,641 shares of company stock valued at $605,953,415. Corporate insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CX Institutional acquired a new stake in NuScale Power in the 3rd quarter valued at $25,000. Quantbot Technologies LP purchased a new position in NuScale Power during the first quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after purchasing an additional 359 shares during the period. Indiana Trust & Investment Management Co purchased a new stake in shares of NuScale Power during the third quarter worth about $34,000. Finally, Ameritas Advisory Services LLC raised its position in shares of NuScale Power by 292.9% during the 3rd quarter. Ameritas Advisory Services LLC now owns 1,100 shares of the company’s stock worth $40,000 after purchasing an additional 820 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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.