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

NuScale Power (NYSE:SMR) had its price objective reduced by B. Riley from $38.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 46.03% from the company’s previous close.

Several other brokerages also recently weighed in on SMR. Wall Street Zen downgraded shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. The Goldman Sachs Group decreased their price objective on shares of NuScale Power from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Cantor Fitzgerald assumed coverage on NuScale Power in a research report on Tuesday, October 21st. They set an “overweight” rating and a $55.00 target price on the stock. UBS Group set a $20.00 price objective on NuScale Power in a research report on Tuesday, November 25th. Finally, Bank of America restated an “underperform” rating and issued a $34.00 target price (down from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $35.18.

NuScale Power Trading Up 2.3%

NYSE:SMR traded up $0.37 during midday trading on Monday, reaching $16.44. The company had a trading volume of 15,772,019 shares, compared to its average volume of 15,243,940. The stock’s fifty day simple moving average is $28.52 and its 200-day simple moving average is $35.57. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -5.73 and a beta of 2.09. NuScale Power has a 12-month low of $11.08 and a 12-month high of $57.42.

NuScale Power (NYSE:SMR) last posted its 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 period last year, the company earned ($0.18) EPS. The business’s quarterly revenue was up 1635.2% compared to the same quarter last year. As a group, sell-side analysts expect that NuScale Power will post -0.73 EPS for the current year.

Insider Activity

In other NuScale Power news, Director Corp Fluor sold 981,688 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $42.69, for a total value of $41,908,260.72. Following the completion of the sale, the director directly owned 7,890,587 shares of the company’s stock, valued at approximately $336,849,159.03. This represents a 11.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,912,275 shares of company stock valued at $350,978,312 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of NuScale Power by 67.2% in the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock valued at $190,362,000 after acquiring an additional 2,125,250 shares during the period. Samsung C&T Corp raised its position in shares of NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after buying an additional 2,578,702 shares during the last quarter. Clear Street Group Inc. bought a new stake in shares of NuScale Power in the 3rd quarter worth approximately $155,616,000. Finally, Geode Capital Management LLC boosted its stake in NuScale Power by 25.2% during the second 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 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.