NuScale Power (NYSE:SMR) Price Target Cut to $24.00 by Analysts at B. Riley

NuScale Power (NYSE:SMR) had its price objective decreased by B. Riley from $38.00 to $24.00 in a research report released on Monday morning,Benzinga reports. B. Riley currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. BNP Paribas cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. BNP Paribas Exane lowered NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. UBS Group set a $20.00 target price on NuScale Power in a report on Tuesday, November 25th. Finally, Barclays initiated coverage on NuScale Power in a research note on Monday, September 29th. They set an “equal weight” rating and a $45.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, NuScale Power presently has a consensus rating of “Reduce” and an average target price of $35.18.

NuScale Power Trading Up 1.8%

NuScale Power stock opened at $16.36 on Monday. The stock has a fifty day moving average price of $27.95 and a 200 day moving average price of $35.46. NuScale Power has a 52 week low of $11.08 and a 52 week high of $57.42. The firm has a market capitalization of $4.88 billion, a P/E ratio of -5.72 and a beta of 2.09.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm earned ($0.18) EPS. The firm’s quarterly revenue was up 1635.2% compared to the same quarter last year. As a group, equities analysts predict that NuScale Power will post -0.73 EPS for the current year.

Insider Activity

In other news, Director Corp Fluor sold 87,900 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the transaction, the chief financial officer owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. This trade represents a 46.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,930,587 shares of company stock valued at $309,070,052 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. Private Wealth Partners LLC grew its holdings in NuScale Power by 39.4% in the 2nd quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock worth $910,000 after buying an additional 6,500 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of NuScale Power by 72.3% during the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock valued at $3,614,000 after purchasing an additional 38,347 shares in the last quarter. Truist Financial Corp grew its position in NuScale Power by 23.3% in the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock valued at $1,885,000 after buying an additional 9,016 shares in the last quarter. Black Swift Group LLC acquired a new position in NuScale Power during the 2nd quarter valued at about $585,000. Finally, Geode Capital Management LLC raised its position in shares of NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after buying an additional 574,295 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

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.