NuScale Power (NYSE:SMR) Stock Rating Upgraded by Zacks Research

NuScale Power (NYSE:SMR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on SMR. Bank of America reissued an “underperform” rating and set a $34.00 target price (down from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Citigroup reissued a “sell” rating and set a $37.50 price objective (down from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a report on Monday. Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Canaccord Genuity Group raised their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $35.18.

NuScale Power Trading Down 3.0%

SMR stock opened at $15.94 on Monday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -5.57 and a beta of 2.09. The firm’s 50-day moving average price is $27.36 and its two-hundred day moving average price is $35.33. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business had revenue of $8.24 million during the quarter, compared to the consensus estimate of $11.29 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 1635.2% compared to the same quarter last year. Equities analysts predict that NuScale Power will post -0.73 EPS for the current year.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 965,049 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $37.67, for a total transaction of $36,353,395.83. Following the sale, the director owned 6,151,617 shares of the company’s stock, valued at $231,731,412.39. The trade was a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 7,156,666 shares of company stock worth $277,733,990. Company insiders own 1.20% of the company’s stock.

Institutional Trading of NuScale Power

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of NuScale Power by 112.7% in the 1st quarter. Invesco Ltd. now owns 73,916 shares of the company’s stock worth $1,047,000 after buying an additional 39,167 shares during the last quarter. Nuveen LLC purchased a new position in shares of NuScale Power in the 1st quarter worth about $2,961,000. HighTower Advisors LLC boosted its stake in NuScale Power by 137.7% in the 1st quarter. HighTower Advisors LLC now owns 43,457 shares of the company’s stock worth $615,000 after purchasing an additional 25,174 shares in the last quarter. Northern Trust Corp grew its position in NuScale Power by 7.1% during the 1st quarter. Northern Trust Corp now owns 857,728 shares of the company’s stock valued at $12,145,000 after purchasing an additional 56,535 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in NuScale Power during the 1st quarter valued at about $27,000. 78.37% of the stock is owned by institutional investors.

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.