Royal Bank Of Canada Cuts NuScale Power (NYSE:SMR) Price Target to $14.00

NuScale Power (NYSE:SMR) had its price objective reduced by Royal Bank Of Canada from $21.00 to $14.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 4.79% from the stock’s current price.

A number of other analysts have also weighed in on the stock. TD Cowen lowered shares of NuScale Power from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Zacks Research raised shares of NuScale Power from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Wall Street Zen downgraded NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research report on Monday, December 29th. Finally, Texas Capital raised NuScale Power to a “strong-buy” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.88.

NuScale Power Stock Up 4.0%

SMR traded up $0.51 during trading on Monday, reaching $13.36. 13,253,024 shares of the company were exchanged, compared to its average volume of 28,483,367. NuScale Power has a 12-month low of $11.08 and a 12-month high of $57.42. The company’s 50-day moving average is $16.79 and its two-hundred day moving average is $26.98. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -4.64 and a beta of 2.20.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.70). NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. The company had revenue of $1.81 million for the quarter, compared to analysts’ expectations of $8.76 million. Equities analysts forecast that NuScale Power will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

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

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently made changes to their positions in the business. Strategic Advocates LLC purchased a new position in NuScale Power in the 3rd quarter worth $25,000. CX Institutional purchased a new position in shares of NuScale Power in the third quarter worth about $25,000. Nemes Rush Group LLC purchased a new position in shares of NuScale Power in the third quarter worth about $25,000. Indiana Trust & Investment Management Co bought a new stake in shares of NuScale Power in the 3rd quarter valued at about $34,000. Finally, Accredited Wealth Management LLC purchased a new stake in NuScale Power during the 3rd quarter valued at about $35,000. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

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.