BNP Paribas Exane Downgrades NuScale Power (NYSE:SMR) to Underperform

Key Points

• BNP Paribas Exane has downgraded NuScale Power from a "neutral" rating to an "underperform" rating, reflecting a shift in analyst sentiment towards the stock.
• Despite the downgrade, some analysts maintain positive ratings, with Cantor Fitzgerald setting an "overweight" rating and a $55.00 price target, while Citigroup has lowered its price target to $37.50.
• Insiders have sold a total of 15,048,847 shares of NuScale Power in the last quarter, indicating significant selling pressure from those close to the company.

NuScale Power (NYSE:SMR - Get Free Report) was downgraded by research analysts at BNP Paribas Exane from a "neutral" rating to an "underperform" rating in a report released on Tuesday,Briefing.com Automated Import reports.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald started coverage on NuScale Power in a research report on Tuesday. They set an "overweight" rating and a $55.00 price objective on the stock. UBS Group boosted their price objective on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Citigroup restated a "sell" rating and set a $37.50 price objective (down from $46.00) on shares of NuScale Power in a research report on Tuesday. Bank of America restated an "underperform" rating and set a $34.00 price objective (down from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Finally, Royal Bank Of Canada started coverage on NuScale Power in a research note on Monday, September 15th. They issued a "sector perform" rating and a $35.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, NuScale Power presently has an average rating of "Reduce" and a consensus target price of $38.79.

NuScale Power Stock Down 0.0%

Shares of NYSE SMR opened at $44.25 on Tuesday. The company has a market cap of $12.60 billion, a P/E ratio of -37.18 and a beta of 2.02. NuScale Power has a 12 month low of $11.08 and a 12 month high of $57.42. The business's 50 day moving average is $38.41 and its two-hundred day moving average is $33.78.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Sell-side analysts expect that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director owned 10,085,344 shares of the company's stock, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 15,048,847 shares of company stock valued at $606,761,579 over the last quarter. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently bought and sold shares of SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after acquiring an additional 1,153,158 shares during the period. Bank of America Corp DE lifted its stake in shares of NuScale Power by 80.9% during the second quarter. Bank of America Corp DE now owns 2,333,248 shares of the company's stock valued at $92,303,000 after acquiring an additional 1,043,676 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of NuScale Power during the first quarter valued at $14,271,000. Finally, Man Group plc acquired a new position in shares of NuScale Power during the second quarter valued at $33,877,000. Institutional investors and hedge funds own 78.37% of the company's stock.

About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.

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