NuScale Power (NYSE:SMR) Coverage Initiated at Cantor Fitzgerald

Key Points

• NuScale Power's stock has been upgraded to a "strong-buy" rating by Cantor Fitzgerald, while other analysts have mixed opinions on the stock, with target prices ranging widely.
• The company's share price has fluctuated significantly, with a 1-year range between $11.08 and $57.42, and an average target price currently at $37.73.
• NuScale Power reported a quarterly earnings miss with a loss of ($0.13) per share and a net margin of -221.07%, while institutional investors hold approximately 78.37% of the company's stock.

Equities researchers at Cantor Fitzgerald assumed coverage on shares of NuScale Power (NYSE:SMR - Get Free Report) in a research note issued on Tuesday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $55.00 price target on the stock. Cantor Fitzgerald's target price would indicate a potential upside of 53.49% from the stock's previous close.

A number of other brokerages have also recently commented on SMR. Bank of America restated an "underperform" rating and issued a $34.00 price target (down previously from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. UBS Group raised their price target on NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Barclays began coverage on NuScale Power in a research report on Monday, September 29th. They issued an "equal weight" rating and a $45.00 price target on the stock. Northland Securities began coverage on NuScale Power in a research report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price target on the stock. Finally, Royal Bank Of Canada assumed coverage on NuScale Power in a research report on Monday, September 15th. They issued a "sector perform" rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $37.73.

NuScale Power Trading Down 6.6%

SMR stock traded down $2.54 during trading hours on Tuesday, hitting $35.83. 7,243,047 shares of the stock were exchanged, compared to its average volume of 13,442,705. The firm has a market capitalization of $10.21 billion, a P/E ratio of -30.54 and a beta of 2.02. The company has a 50-day simple moving average of $38.42 and a two-hundred day simple moving average of $33.81. NuScale Power has a 12 month low of $11.08 and a 12 month high of $57.42.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 2.61% and a negative net margin of 221.07%. On average, equities research analysts predict that NuScale Power will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction that occurred 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 directly owned 10,085,344 shares of the company's stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,048,847 shares of company stock valued at $606,761,579 over the last quarter. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 valued at $31,000 after buying an additional 359 shares during the period. Indiana Trust & Investment Management Co acquired a new position in NuScale Power in the third quarter valued at approximately $34,000. Rothschild Investment LLC lifted its stake in NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after buying an additional 350 shares during the period. Harbour Investments Inc. lifted its stake in NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after buying an additional 203 shares during the period. Finally, Delos Wealth Advisors LLC acquired a new position in NuScale Power in the second quarter valued at approximately $51,000. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Company Profile

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.