NuScale Power (NYSE:SMR) Stock Rating Lowered by BTIG Research

NuScale Power (NYSE:SMR) was downgraded by equities research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat Ratings reports.

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

NuScale Power Stock Performance

Shares of SMR opened at $38.29 on Wednesday. NuScale Power has a fifty-two week low of $6.88 and a fifty-two week high of $45.31. The company has a market capitalization of $10.89 billion, a PE ratio of -27.95 and a beta of 2.00. The stock has a fifty day moving average of $27.46 and a two-hundred day moving average of $22.18.

NuScale Power (NYSE:SMR) last released its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. The firm had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. As a group, equities research analysts forecast that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Activity 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 sale, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,278 shares of company stock valued at $2,286,280. Insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 worth $126,598,000 after purchasing an additional 512,618 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after acquiring an additional 1,153,158 shares during the last quarter. Samsung C&T Corp bought a new position in shares of NuScale Power during the fourth quarter worth about $46,745,000. Swedbank AB increased its holdings in shares of NuScale Power by 6.7% in the 1st 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 period. Finally, Geode Capital Management LLC lifted its position in NuScale Power by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after purchasing an additional 135,613 shares during the last quarter. 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.