NuScale Power (NYSE:SMR) Cut 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 research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. BNP Paribas Exane cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Citigroup restated a “sell” rating and set a $37.50 price objective (down previously from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. Barclays started coverage on shares of NuScale Power in a research report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target for the company. B. Riley cut their price target on NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada set a $21.00 price objective on NuScale Power in a report on Tuesday. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.42.

NuScale Power Stock Up 3.9%

SMR stock opened at $19.74 on Tuesday. The company’s fifty day simple moving average is $18.73 and its 200 day simple moving average is $32.35. NuScale Power has a 12-month low of $11.08 and a 12-month high of $57.42. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of -6.90 and a beta of 2.12.

NuScale Power (NYSE:SMR) last announced 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 for the quarter, compared to the consensus estimate of $11.29 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 1635.2% on a year-over-year basis. Research analysts expect that NuScale Power will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the transaction, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. The trade was a 46.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Institutional Trading of NuScale Power

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

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.