NuScale Power (NYSE:SMR) Rating Lowered to "Neutral" at BTIG Research

NuScale Power (NYSE:SMR - Get Free Report) was downgraded by BTIG Research from a "buy" rating to a "neutral" rating in a report issued on Wednesday, Marketbeat.com reports.

A number of other research analysts also recently weighed in on SMR. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the company a "buy" rating in a research note on Thursday, May 29th. CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. UBS Group boosted their target price on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Citigroup initiated coverage on shares of NuScale Power in a research report on Monday. They issued a "neutral" rating and a $46.00 price target on the stock. Finally, The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, NuScale Power has a consensus rating of "Moderate Buy" and a consensus target price of $29.38.

NuScale Power Stock Up 18.8%

Shares of SMR opened at $43.36 on Wednesday. The firm has a market capitalization of $12.33 billion, a PE ratio of -31.65 and a beta of 2.00. NuScale Power has a 12-month low of $6.88 and a 12-month high of $45.31. The stock's fifty day simple moving average is $26.51 and its 200-day simple moving average is $21.97.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate 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 company had revenue of $13.38 million during the quarter, compared to analysts' expectations of $1.46 million. Analysts anticipate that NuScale Power will post -0.73 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares of the company's stock, valued at $7,810,211.91. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 1,565 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president now directly owns 1,218 shares of the company's stock, valued at $20,632.92. This represents a 56.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,278 shares of company stock valued at $2,286,280. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Rhumbline Advisers grew its stake in NuScale Power by 9.3% in the fourth quarter. Rhumbline Advisers now owns 111,404 shares of the company's stock valued at $1,997,000 after purchasing an additional 9,485 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of NuScale Power in the 4th quarter valued at approximately $303,000. Truist Financial Corp grew its stake in shares of NuScale Power by 52.5% in the fourth quarter. Truist Financial Corp now owns 26,140 shares of the company's stock valued at $469,000 after buying an additional 9,000 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after buying an additional 1,500 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in NuScale Power by 8.5% during the fourth quarter. New York State Common Retirement Fund now owns 24,172 shares of the company's stock worth $433,000 after acquiring an additional 1,900 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

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.

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