NuScale Power (NYSE:SMR) Now Covered by Analysts at BNP Paribas Exane

Key Points

• BNP Paribas Exane initiated coverage of NuScale Power (NYSE:SMR) with a neutral rating and a price target of $41.00, indicating a potential downside of 18.84% from the current price.
• Analysts have given mixed ratings, with seven indicating a hold rating and three issuing a buy rating, while the average price target stands at $33.00.
• NuScale Power reported a revenue of $13.38 million for the last quarter, exceeding analysts' estimates of $1.46 million, although it posted an earnings per share (EPS) of (-$0.11).
• Insider transactions revealed significant selling activity, with CEO John Lawrence Hopkins selling over 26,000 shares valued at approximately $623,322.70.

Stock analysts at BNP Paribas Exane initiated coverage on shares of NuScale Power (NYSE:SMR - Get Free Report) in a report issued on Friday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $41.00 price target on the stock. BNP Paribas Exane's target price suggests a potential downside of 20.69% from the stock's current price.

SMR has been the subject of several other reports. CLSA set a $41.00 price target on shares of NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. UBS Group lifted their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Northland Capmk upgraded NuScale Power to a "hold" rating in a report on Monday, July 7th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $33.00.

NuScale Power Stock Performance

NuScale Power stock traded up $0.66 during mid-day trading on Friday, reaching $51.69. The company's stock had a trading volume of 9,911,484 shares, compared to its average volume of 11,970,320. NuScale Power has a 12-month low of $6.88 and a 12-month high of $53.39. The company has a market capitalization of $14.70 billion, a P/E ratio of -37.73 and a beta of 2.04. The firm's fifty day moving average price is $37.42 and its two-hundred day moving average price is $25.23.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. The business had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. On average, research analysts predict that NuScale Power will post -0.73 EPS for the current fiscal year.

Insider Activity

In related news, insider Clayton Scott sold 10,019 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.78, for a total transaction of $168,118.82. Following the transaction, the insider owned 86,965 shares in the company, valued at $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president owned 1,218 shares in the company, valued at $20,632.92. This represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,278 shares of company stock valued at $1,786,990. Insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of SMR. Quantbot Technologies LP purchased a new stake in NuScale Power in the first quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after purchasing an additional 359 shares during the period. CoreCap Advisors LLC bought a new position in shares of NuScale Power in the fourth quarter worth approximately $33,000. NBC Securities Inc. lifted its stake in shares of NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after buying an additional 3,309 shares in the last quarter. Finally, Stone House Investment Management LLC bought a new position in shares of NuScale Power in the first quarter worth approximately $50,000. Hedge funds and other institutional investors 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.