Weiss Ratings Reaffirms Sell (E+) Rating for NuScale Power (NYSE:SMR)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for NuScale Power (NYSE: SMR) amidst varying perspectives from other analysts, with three holding Buy ratings and ten giving a Hold rating.
• NuScale Power's stock recently traded at $38.18, with a notable market capitalization of $10.88 billion and a P/E ratio of -32.08, indicating significant financial challenges.
• Insider selling has been notable, with a director selling over 854,000 shares for more than $36 million, representing a 48.45% decrease in their holdings.

NuScale Power (NYSE:SMR - Get Free Report)'s stock had its "sell (e+)" rating restated by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also issued reports on SMR. Northland Securities started coverage on shares of NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price on the stock. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Bank of America reiterated an "underperform" rating and issued a $34.00 target price (down from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada began coverage on shares of 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. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $36.67.

NuScale Power Price Performance

NYSE:SMR traded down $1.03 during midday trading on Wednesday, reaching $38.18. The stock had a trading volume of 15,355,899 shares, compared to its average volume of 19,613,996. NuScale Power has a 1-year low of $11.08 and a 1-year high of $53.50. The firm's fifty day simple moving average is $38.25 and its 200-day simple moving average is $31.91. The stock has a market capitalization of $10.88 billion, a P/E ratio of -32.08 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. On average, equities research analysts anticipate that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 854,033 shares of NuScale Power stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $42.41, for a total transaction of $36,219,539.53. Following the sale, the director directly owned 908,761 shares in the company, valued at approximately $38,540,554.01. The trade was a 48.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 14,140,086 shares of company stock worth $569,889,872. 1.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in NuScale Power by 31.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock valued at $2,734,000 after purchasing an additional 46,744 shares in the last quarter. Fox Hill Wealth Management boosted its holdings in NuScale Power by 29.1% during the second quarter. Fox Hill Wealth Management now owns 121,796 shares of the company's stock valued at $4,818,000 after purchasing an additional 27,462 shares in the last quarter. MFG Wealth Management Inc. acquired a new stake in NuScale Power during the second quarter valued at approximately $1,829,000. Swedbank AB boosted its holdings in NuScale Power by 6.7% during the first quarter. Swedbank AB now owns 2,402,125 shares of the company's stock valued at $34,014,000 after purchasing an additional 149,875 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in NuScale Power by 6.9% during the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after purchasing an additional 833 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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.

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