NuScale Power (NYSE:SMR) Rating Lowered to “Strong Sell” at Zacks Research

NuScale Power (NYSE:SMR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

SMR has been the subject of several other reports. Cantor Fitzgerald began coverage on shares of NuScale Power in a research note on Tuesday, October 21st. They set an “overweight” rating and a $55.00 target price for the company. Wall Street Zen lowered NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. BNP Paribas Exane cut NuScale Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Barclays began coverage on NuScale Power in a research report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 target price on the stock. Finally, Bank of America upgraded NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a report on Friday, January 9th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $33.42.

NuScale Power Price Performance

Shares of NYSE:SMR traded up $0.94 during trading on Tuesday, hitting $20.69. 14,490,066 shares of the company’s stock were exchanged, compared to its average volume of 33,925,727. The business’s 50-day simple moving average is $18.73 and its 200 day simple moving average is $32.35. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -7.23 and a beta of 2.12. NuScale Power has a 52-week low of $11.08 and a 52-week 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 business had revenue of $8.24 million during the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The company’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 company earned ($0.18) earnings per share. On average, sell-side analysts anticipate that NuScale Power will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of NuScale Power stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,026,094.11. This trade represents a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CX Institutional purchased a new stake in NuScale Power in the third quarter worth $25,000. Nemes Rush Group LLC bought a new position in shares of NuScale Power in the third quarter worth about $25,000. Strategic Advocates LLC purchased a new position in NuScale Power in the 3rd quarter worth about $25,000. Indiana Trust & Investment Management Co bought a new stake in NuScale Power during the 3rd quarter valued at about $34,000. Finally, Accredited Wealth Management LLC bought a new stake in NuScale Power during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.