NuScale Power (NYSE:SMR) Stock Rating Cut to Underweight at Barclays

Key Points

• Barclays downgraded NuScale Power to Underweight from Equal Weight and set a $5.00 price target, implying 11.89% downside from the prior close.
• Analyst sentiment remains mixed but leans cautious: NuScale has a consensus Hold rating and a $12.50 price target, while its shares opened at $5.67 after falling 2.7%.
• The company reported a 99.1% year-over-year revenue decline in its latest quarter, with $0.07 million in revenue and a loss of $0.13 per share; insiders also sold $791,270 worth of shares during the last quarter.

NuScale Power (NYSE:SMR - Get Free Report) was downgraded by analysts at Barclays from an "equal weight" rating to an "underweight" rating in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $5.00 target price on the stock. Barclays's price objective points to a potential downside of 11.89% from the stock's previous close.

Several other research firms also recently weighed in on SMR. B. Riley Financial cut their price target on NuScale Power from $19.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of NuScale Power in a research note on Monday, September 21st. Royal Bank Of Canada lowered their price objective on NuScale Power from $14.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 11th. Truist Financial initiated coverage on shares of NuScale Power in a report on Monday, July 13th. They set a "hold" rating and a $10.00 price objective on the stock. Finally, Canaccord Genuity Group cut their target price on shares of NuScale Power from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.50.

NuScale Power Trading Down 2.7%

NuScale Power stock opened at $5.67 on Tuesday. The business's 50 day simple moving average is $8.58 and its 200 day simple moving average is $9.81. NuScale Power has a 12 month low of $5.44 and a 12 month high of $46.40. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -1.94 and a beta of 2.36.

NuScale Power (NYSE:SMR - Get Free Report) last released its 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). The business had revenue of $0.07 million during the quarter, compared to the consensus estimate of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%. The business's revenue for the quarter was down 99.1% on a year-over-year basis. During the same period last year, the business posted ($0.11) earnings per share. As a group, equities research analysts forecast that NuScale Power will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Carl M. Fisher sold 18,771 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares in the company, valued at $1,073,760.48. This represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 29,880 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $9.39, for a total transaction of $280,573.20. Following the completion of the sale, the chief financial officer directly owned 124,235 shares in the company, valued at approximately $1,166,566.65. The trade was a 19.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 88,651 shares of company stock worth $791,270 in the last quarter. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently modified their holdings of the company. CWA Asset Management Group LLC grew its position in NuScale Power by 2.6% in the third quarter. CWA Asset Management Group LLC now owns 197,337 shares of the company's stock worth $1,559,000 after acquiring an additional 5,080 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in shares of NuScale Power by 57.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 33,797 shares of the company's stock worth $267,000 after buying an additional 12,300 shares during the period. GAMMA Investing LLC boosted its stake in shares of NuScale Power by 157.5% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock valued at $25,000 after purchasing an additional 1,970 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in NuScale Power during the 2nd quarter valued at $126,000. Finally, WINTON GROUP Ltd bought a new stake in shares of NuScale Power in the second quarter worth about $392,000. 78.37% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.