NuScale Power (NYSE:SMR) Earns Neutral Rating from Analysts at Citigroup

Citigroup began coverage on shares of NuScale Power (NYSE:SMR) in a research report report published on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $46.00 target price on the stock.

SMR has been the subject of a number of other research reports. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the company a “buy” rating in a report on Thursday, May 29th. CLSA set a $41.00 target price on NuScale Power and gave the company an “outperform” rating in a report on Tuesday, May 27th. BTIG Research reissued a “buy” rating on shares of NuScale Power in a report on Tuesday, May 13th. Finally, UBS Group boosted their target price on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

NuScale Power Trading Down 10.5%

Shares of NYSE SMR opened at $38.70 on Monday. NuScale Power has a twelve month low of $6.88 and a twelve month high of $45.31. The stock has a 50 day moving average of $26.99 and a two-hundred day moving average of $22.08. The stock has a market cap of $11.01 billion, a P/E ratio of -28.25 and a beta of 2.00.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The company had revenue of $13.38 million during the quarter, compared to analysts’ expectations of $1.46 million. As a group, research analysts predict that NuScale Power will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 34,675 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the transaction, the chief executive officer now owns 49,019 shares of the company’s stock, valued at $833,323. This represents a 41.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jacqueline F. Engel sold 1,565 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at $20,632.92. This represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,278 shares of company stock valued at $2,286,280 over the last quarter. Company insiders own 1.27% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in NuScale Power by 6.1% during the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock worth $126,598,000 after purchasing an additional 512,618 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. Samsung C&T Corp purchased a new stake in NuScale Power during the fourth quarter worth $46,745,000. Swedbank AB boosted its position in NuScale Power by 6.7% during the first quarter. Swedbank AB now owns 2,402,125 shares of the company’s stock worth $34,014,000 after purchasing an additional 149,875 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in NuScale Power by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock worth $35,249,000 after purchasing an additional 135,613 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

About NuScale Power

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.