NuScale Power's (SMR) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• NuScale Power's stock has received a "sell (e+)" rating from Weiss Ratings, indicating continued negative sentiment from analysts.
• Despite some analysts raising their price targets, the stock has seen various ratings, with three analysts rating it as Buy, seven as Hold, and five as Sell.
• Insider selling is notable, with Director Corp Fluor recently selling over 2.3 million shares, reflecting a 19.04% reduction in their holdings.

NuScale Power (NYSE:SMR - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other research firms have also recently issued reports on SMR. UBS Group raised their price objective on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Citigroup reissued a "sell" rating and issued a $37.50 price target (down from $46.00) on shares of NuScale Power in a research note on Tuesday. BNP Paribas downgraded shares of NuScale Power from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Royal Bank Of Canada began coverage on shares of NuScale Power in a report on Monday, September 15th. They set a "sector perform" rating and a $35.00 price target for the company. Finally, Cantor Fitzgerald assumed coverage on shares of NuScale Power in a report on Tuesday. They set an "overweight" rating and a $55.00 price target for the company. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $37.73.

NuScale Power Stock Up 0.0%

SMR opened at $37.56 on Friday. The firm's fifty day simple moving average is $38.45 and its two-hundred day simple moving average is $34.15. The company has a market cap of $10.70 billion, a price-to-earnings ratio of -31.56 and a beta of 2.02. NuScale Power has a 52-week low of $11.08 and a 52-week high of $57.42.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $8.05 million during the quarter, compared to analysts' expectations 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, research analysts forecast that NuScale Power will post -0.73 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the company's stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This represents a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 15,048,847 shares of company stock worth $606,761,579. 1.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of NuScale Power by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after purchasing an additional 512,618 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NuScale Power by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock worth $96,880,000 after purchasing an additional 1,153,158 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company's stock worth $112,944,000 after acquiring an additional 574,295 shares during the last quarter. State Street Corp boosted its position in shares of NuScale Power by 37.5% in the second quarter. State Street Corp now owns 2,736,187 shares of the company's stock worth $108,244,000 after acquiring an additional 746,667 shares during the last quarter. Finally, Swedbank AB boosted its position in shares of NuScale Power by 6.7% in the first quarter. Swedbank AB now owns 2,402,125 shares of the company's stock worth $34,014,000 after acquiring an additional 149,875 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company's stock.

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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