NuScale Power (NYSE:SMR) Given New $7.00 Price Target at Citigroup

NuScale Power (NYSE:SMR) had its price target lowered by stock analysts at Citigroup from $9.00 to $7.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s price target points to a potential downside of 47.11% from the company’s current price.

A number of other equities analysts have also issued reports on SMR. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a research note on Friday. TD Cowen lowered NuScale Power from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Canaccord Genuity Group reduced their target price on NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Barclays reduced their target price on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.08.

NuScale Power Trading Up 5.5%

Shares of SMR traded up $0.69 during midday trading on Monday, hitting $13.24. 21,151,503 shares of the company’s stock traded hands, compared to its average volume of 28,667,260. NuScale Power has a 1 year low of $8.85 and a 1 year high of $57.42. The firm’s fifty day moving average is $11.63 and its 200-day moving average is $18.11. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -4.54 and a beta of 2.24.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.57 million for the quarter, compared to analysts’ expectations of $7.00 million. The company’s revenue was down 95.8% on a year-over-year basis. On average, equities research analysts anticipate that NuScale Power will post -0.44 EPS for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 82,667 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the sale, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. This trade represents a 41.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 18,570 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $226,925.40. Following the sale, the chief financial officer directly owned 97,192 shares in the company, valued at $1,187,686.24. This represents a 16.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,572,082 shares of company stock worth $481,029,608 in the last three months. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the business. CX Institutional acquired a new stake in shares of NuScale Power during the 3rd quarter valued at about $25,000. Nemes Rush Group LLC acquired a new stake in shares of NuScale Power during the 3rd quarter valued at about $25,000. Strategic Advocates LLC acquired a new stake in shares of NuScale Power during the 3rd quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC grew its position in shares of NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after acquiring an additional 1,675 shares during the period. Finally, Assetmark Inc. grew its position in shares of NuScale Power by 1,940.3% during the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 2,309 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

About NuScale Power

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.