NuScale Power (NYSE:SMR) Upgraded at BNP Paribas

Key Points

• NuScale Power was upgraded to a "hold" rating by BNP Paribas, reflecting a cautious outlook amid recent fluctuations in analyst ratings where other firms have set target prices ranging from $24.00 to $46.00.
• The company's stock has shown significant volatility, with a 52-week high of $53.39 and a low of $6.88, currently trading at approximately $51.69.
• NuScale Power reported a quarterly revenue of $13.38 million, surpassing estimates, though it still posted a negative net margin and forecasts indicate a projected loss of $0.73 earnings per share for the current fiscal year.

NuScale Power (NYSE:SMR - Get Free Report) was upgraded by investment analysts at BNP Paribas to a "hold" rating in a research report issued on Friday,Zacks.com reports.

Several other research firms have also recently commented on SMR. Citigroup began coverage on shares of NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target on the stock. Northland Securities assumed coverage on NuScale Power in a research report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price objective on the stock. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. BNP Paribas Exane initiated coverage on NuScale Power in a research report on Friday. They set a "neutral" rating and a $41.00 target price for the company. Finally, Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, NuScale Power presently has a consensus rating of "Hold" and a consensus price target of $33.00.

NuScale Power Stock Performance

Shares of SMR stock opened at $51.69 on Friday. NuScale Power has a 52 week low of $6.88 and a 52 week high of $53.39. The stock has a market capitalization of $14.70 billion, a PE ratio of -37.73 and a beta of 2.04. The stock's fifty day moving average is $37.42 and its 200-day moving average is $25.23.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (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 business had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. As a group, analysts forecast that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Jacqueline F. Engel sold 1,565 shares of NuScale Power stock in a transaction 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 completion of the sale, the vice president directly owned 1,218 shares of the company's stock, valued at $20,632.92. The trade was a 56.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Clayton Scott sold 10,019 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.78, for a total value of $168,118.82. Following the completion of the transaction, the insider directly owned 86,965 shares in the company, valued at $1,459,272.70. The trade was a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,278 shares of company stock valued at $1,786,990 in the last 90 days. 1.27% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

A number of hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after purchasing an additional 359 shares during the period. Toth Financial Advisory Corp boosted its position in shares of NuScale Power by 185.0% during the second quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company's stock worth $68,000 after purchasing an additional 1,110 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of NuScale Power by 55.7% in the 2nd quarter. IFP Advisors Inc now owns 1,745 shares of the company's stock valued at $69,000 after buying an additional 624 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of NuScale Power in the 2nd quarter valued at $69,000. Finally, CoreCap Advisors LLC bought a new stake in shares of NuScale Power in the 4th quarter valued at $33,000. 78.37% of the stock is currently 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.

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