Truist Financial Issues Pessimistic Forecast for NuScale Power (NYSE:SMR) Stock Price

Key Points

• Truist Financial cut NuScale Power’s price target from $10 to $8 and maintained a “Hold” rating, implying roughly 45.6% upside from the reported $5.50 share price.
• Analyst sentiment remains mixed but centers on “Hold,” with a consensus price target of $11.08; UBS and Citigroup issued “Sell” ratings with targets of $6 and $4, respectively.
• NuScale reported a $0.13 quarterly loss per share in line with estimates, but revenue of just $0.07 million fell far short of the $8.8 million forecast and declined 99.1% year over year.

NuScale Power (NYSE:SMR - Get Free Report) had its target price reduced by analysts at Truist Financial from $10.00 to $8.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price objective would suggest a potential upside of 45.59% from the company's current price.

A number of other equities analysts also recently weighed in on the stock. UBS Group downgraded shares of NuScale Power from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $10.00 to $6.00 in a report on Friday, September 11th. Royal Bank Of Canada cut their price target on shares of NuScale Power from $14.00 to $10.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 11th. Northland Securities set a $16.00 price objective on shares of NuScale Power in a research report on Thursday, August 6th. Citigroup lowered 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 note on Wednesday. Finally, B. Riley Financial dropped their target price on shares of NuScale Power from $19.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.08.

NuScale Power Price Performance

NYSE SMR opened at $5.50 on Thursday. NuScale Power has a one year low of $5.33 and a one year high of $45.54. The firm has a market cap of $2.36 billion, a P/E ratio of -1.88 and a beta of 2.36. The stock's 50-day moving average is $8.41 and its 200-day moving average is $9.75.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.13). The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $8.80 million. NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company's revenue for the quarter was down 99.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. Equities analysts anticipate that NuScale Power will post -0.64 EPS for the current year.

Insider Activity at NuScale Power

In related news, CFO Robert Hamady sold 29,880 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $9.39, for a total value of $280,573.20. Following the transaction, the chief financial officer owned 124,235 shares in the company, valued at approximately $1,166,566.65. This represents a 19.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Carl Fisher sold 18,771 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total value of $175,696.56. Following the transaction, the chief operating officer owned 114,718 shares in the company, valued at approximately $1,073,760.48. This trade represents a 14.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 88,651 shares of company stock worth $791,270. Insiders own 1.28% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in NuScale Power by 157.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock worth $25,000 after purchasing an additional 1,970 shares in the last quarter. Assetmark Inc. increased its holdings in shares of NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company's stock worth $26,000 after purchasing an additional 2,309 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of NuScale Power during the second quarter worth approximately $27,000. Nisa Investment Advisors LLC increased its holdings in shares of NuScale Power by 69.6% during the third quarter. Nisa Investment Advisors LLC now owns 7,191 shares of the company's stock worth $57,000 after purchasing an additional 2,952 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in shares of NuScale Power in the second quarter valued at approximately $92,000. Institutional investors own 78.37% of the company's stock.

NuScale Power Company Profile

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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