NuScale Power Corporation (NYSE:SMR) Stock Has Average Price Target of $11.08 According to Brokerages

Key Points

• NuScale Power carries a consensus “Hold” rating from 16 analysts, with an average 12-month price target of $11.08. Recent firms including UBS, Barclays, and Citigroup cut their targets and issued or maintained bearish ratings.
• SMR shares opened at $5.26, near their 12-month low of $5.20 and down sharply from the $45.54 high; the stock’s 50-day and 200-day moving averages were $8.15 and $11.20, respectively.
• The company reported a quarterly loss of $0.13 per share and revenue of just $0.07 million versus $8.80 million expected, with revenue declining 99.1% year over year. Insiders sold 88,651 shares worth $791,270 during the latest quarter.

NuScale Power Corporation (NYSE:SMR - Get Free Report) has been assigned an average rating of "Hold" from the sixteen research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.08.

Several analysts have issued reports on SMR shares. UBS Group downgraded NuScale Power from a "neutral" rating to a "sell" rating and dropped their price target for the company from $10.00 to $6.00 in a research note on Friday, September 11th. Weiss Ratings restated a "sell (d-)" rating on shares of NuScale Power in a report on Monday, September 21st. Barclays cut NuScale Power from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $11.00 to $5.00 in a research report on Tuesday, October 20th. Canaccord Genuity Group decreased their price objective on NuScale Power from $25.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Citigroup decreased their price objective on NuScale Power from $6.50 to $4.00 and set a "sell" rating for the company in a report on Wednesday, October 21st.

Insiders Place Their Bets

In other news, Director Shinji Fujino sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.86, for a total transaction of $177,200.00. Following the completion of the transaction, the director directly owned 17,242 shares of the company's stock, valued at $152,764.12. This trade represents a 53.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Hamady sold 29,880 shares of NuScale Power stock in a transaction that occurred on Thursday, August 27th. The shares were 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 owned 124,235 shares in the company, valued at $1,166,566.65. This trade represents a 19.39% decrease in their ownership of the stock. 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. Insiders sold a total of 88,651 shares of company stock valued at $791,270 in the last quarter. 1.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in NuScale Power by 275.1% in the third quarter. Signaturefd LLC now owns 7,693 shares of the company's stock valued at $61,000 after purchasing an additional 5,642 shares in the last quarter. Gibbs Wealth Management acquired a new stake in NuScale Power in the 3rd quarter valued at $93,000. Sterling Capital Management LLC increased its stake in NuScale Power by 904.2% in the 3rd quarter. Sterling Capital Management LLC now owns 11,488 shares of the company's stock valued at $91,000 after buying an additional 10,344 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in NuScale Power by 33.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 68,236 shares of the company's stock worth $539,000 after buying an additional 17,236 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in NuScale Power by 69.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,191 shares of the company's stock worth $57,000 after buying an additional 2,952 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Stock Down 2.1%

Shares of SMR stock opened at $5.26 on Tuesday. NuScale Power has a 12-month low of $5.20 and a 12-month high of $45.54. The firm has a fifty day moving average of $8.15 and a 200-day moving average of $11.20. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -1.80 and a beta of 2.36.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $0.07 million for the quarter, compared to analysts' expectations 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 firm's revenue was down 99.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) EPS. On average, equities analysts expect that NuScale Power will post -0.64 EPS for the current year.

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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