NuScale Power (NYSE:SMR) Downgraded by Barclays to Underweight

NuScale Power (NYSE:SMR) was downgraded by equities research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $5.00 price target on the stock. Barclays‘s price objective indicates a potential downside of 11.89% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. B. Riley Financial reduced their target price on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Royal Bank Of Canada lowered their target price on NuScale Power from $14.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 11th. Citigroup dropped their price target on NuScale Power from $7.50 to $6.50 and set a “sell” rating on the stock in a research report on Thursday, August 6th. UBS Group lowered NuScale Power from a “neutral” rating to a “sell” rating and dropped their price target for the company from $10.00 to $6.00 in a research report on Friday, September 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.50.

NuScale Power Trading Down 2.7%

NYSE:SMR opened at $5.67 on Tuesday. The company has a 50-day moving average price of $8.58 and a 200-day moving average price of $9.81. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -1.94 and a beta of 2.36. NuScale Power has a 12 month low of $5.44 and a 12 month high of $46.40.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $8.80 million. During the same quarter in the previous year, the company earned ($0.11) earnings per share. NuScale Power’s quarterly revenue was down 99.1% on a year-over-year basis. Equities analysts forecast that NuScale Power will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, COO Carl Fisher sold 18,771 shares of NuScale Power stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the completion of the transaction, the chief operating officer owned 114,718 shares in the company, valued at approximately $1,073,760.48. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 29,880 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $9.39, for a total value of $280,573.20. Following the completion of the sale, the chief financial officer directly owned 124,235 shares in the company, valued at $1,166,566.65. This trade represents a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 88,651 shares of company stock worth $791,270. 1.28% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently bought and sold shares of SMR. Assetmark Inc. grew its holdings in shares of NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after buying an additional 2,309 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in NuScale Power in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC raised its holdings in NuScale Power by 157.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after acquiring an additional 1,970 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in NuScale Power in the 1st quarter valued at approximately $94,000. Finally, Ancora Advisors LLC bought a new position in NuScale Power in the 2nd quarter valued at approximately $92,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Company Profile

NuScale Power Corporation develops small modular reactor (SMR) technology for producing electricity and other forms of low-carbon energy. The company’s core product is the NuScale Power Module, a compact pressurized-water reactor designed to be manufactured in a factory, transported to a site and deployed in scalable configurations.

NuScale markets its technology through the VOYGR power plant platform, which can combine multiple reactor modules to meet the needs of utilities, industrial users and other customers.