NuScale Power (NYSE:SMR) Stock Picked Up by Analysts at Wedbush

Key Points

• Wedbush initiated coverage of NuScale Power with an “underperform” rating and a $5 price target, implying approximately 6.17% downside from the prior close.
• Analyst sentiment is mixed but leans cautious: NuScale has a consensus “hold” rating and an average price target of $10.23, while recent firms have issued multiple downgrades and target-price reductions.
• NuScale reported a sharp 99.1% year-over-year revenue decline in its latest quarter, with $0.07 million in revenue and a $0.13 per-share loss; the stock also trades near its 52-week low.

Analysts at Wedbush began coverage on shares of NuScale Power (NYSE:SMR - Get Free Report) in a report issued on Tuesday, Briefing.com reports. The firm set an "underperform" rating and a $5.00 price target on the stock. Wedbush's target price would indicate a potential downside of 6.17% from the stock's previous close.

Other analysts have also recently issued research reports about the company. UBS Group cut NuScale Power from a "neutral" rating to a "sell" rating and cut their target price for the stock from $10.00 to $6.00 in a research report on Friday, September 11th. Canaccord Genuity Group lowered their price target on NuScale Power from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Northland Securities set a $16.00 price target on NuScale Power in a research note on Thursday, August 6th. Truist Financial cut their price objective on shares of NuScale Power from $10.00 to $8.00 and set a "hold" rating for the company in a report on Thursday, October 22nd. Finally, Citigroup reduced their price objective on shares of NuScale Power from $6.50 to $4.00 and set a "sell" rating on the stock in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, NuScale Power has a consensus rating of "Hold" and a consensus target price of $10.23.

NuScale Power Stock Performance

Shares of NuScale Power stock opened at $5.33 on Tuesday. The company has a market capitalization of $2.29 billion, a P/E ratio of -1.82 and a beta of 2.36. The company has a fifty day moving average of $7.80 and a 200 day moving average of $10.85. NuScale Power has a fifty-two week low of $5.20 and a fifty-two week high of $43.99.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%. The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $8.80 million. During the same quarter in the prior year, the business posted ($0.11) EPS. NuScale Power's revenue for the quarter was down 99.1% compared to the same quarter last year. Analysts forecast that NuScale Power will post -0.63 EPS for the current year.

Insider Transactions at NuScale Power

In related news, CFO Robert Hamady sold 20,000 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $7.89, for a total value of $157,800.00. Following the sale, the chief financial officer directly owned 144,235 shares in the company, valued at approximately $1,138,014.15. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shinji Fujino sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total value of $177,200.00. Following the completion of the sale, the director owned 17,242 shares in the company, valued at $152,764.12. This represents a 53.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 88,651 shares of company stock valued at $791,270. 1.28% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in NuScale Power during the 3rd quarter valued at $131,000. Provenance Wealth Advisors LLC bought a new stake in NuScale Power in the third quarter worth $46,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in NuScale Power during the third quarter worth $12,785,000. D.A. Davidson & CO. boosted its stake in NuScale Power by 266.2% during the third quarter. D.A. Davidson & CO. now owns 140,819 shares of the company's stock worth $1,112,000 after buying an additional 102,360 shares during the period. Finally, Victory Financial Group LLC boosted its stake in NuScale Power by 20.9% during the third quarter. Victory Financial Group LLC now owns 23,756 shares of the company's stock worth $188,000 after buying an additional 4,106 shares during the period. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

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.

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