NuScale Power (NYSE:SMR) Cut to “Underweight” at Barclays

Barclays lowered shares of NuScale Power (NYSE:SMR) from an equal weight rating to an underweight rating in a report published on Tuesday, MarketBeat Ratings reports. Barclays currently has $5.00 price objective on the stock, down from their prior price objective of $11.00.

Several other research analysts have also weighed in on SMR. Northland Securities set a $16.00 target price on NuScale Power in a report on Thursday, August 6th. Canaccord Genuity Group lowered their price target on NuScale Power from $25.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Citigroup dropped their price target on NuScale Power from $7.50 to $6.50 and set a “sell” rating on the stock in a research report on Thursday, August 6th. Truist Financial assumed coverage on NuScale Power in a report on Monday, July 13th. They set a “hold” rating and a $10.00 price objective on the stock. Finally, B. Riley Financial cut their price objective on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.08.

NuScale Power Stock Performance

Shares of NYSE:SMR opened at $5.37 on Tuesday. NuScale Power has a 52 week low of $5.23 and a 52 week high of $45.54. The company has a market capitalization of $2.31 billion, a PE ratio of -1.84 and a beta of 2.36. The company has a 50 day moving average price of $8.32 and a two-hundred day moving average price of $9.71.

NuScale Power (NYSE:SMR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The business’s revenue for the quarter was down 99.1% compared to the same quarter last year. During the same period last year, the business posted ($0.11) earnings per share. On average, sell-side analysts forecast that NuScale Power will post -0.64 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, CFO Robert Hamady sold 20,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $7.89, for a total value of $157,800.00. Following the sale, the chief financial officer directly owned 144,235 shares of the company’s stock, valued at approximately $1,138,014.15. The trade was a 12.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Carl Fisher sold 18,771 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the completion of the transaction, the chief operating officer directly owned 114,718 shares of the company’s stock, valued at approximately $1,073,760.48. The trade was a 14.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 88,651 shares of company stock valued at $791,270. 1.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of NuScale Power by 157.5% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,970 shares in the last quarter. Assetmark Inc. boosted its position in NuScale Power by 1,940.3% during the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after acquiring an additional 2,309 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in NuScale Power during the 2nd quarter worth approximately $27,000. Nisa Investment Advisors LLC grew its stake in shares of NuScale Power by 69.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,191 shares of the company’s stock worth $57,000 after acquiring an additional 2,952 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of NuScale Power by 904.2% during the 3rd quarter. Sterling Capital Management LLC now owns 11,488 shares of the company’s stock worth $91,000 after acquiring an additional 10,344 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for producing electricity and other forms of low-carbon energy. The company’s core product is the NuScale Power Module, a compact pressurized-water reactor designed to be manufactured in a factory, transported to a site and deployed in scalable configurations.

NuScale markets its technology through the VOYGR power plant platform, which can combine multiple reactor modules to meet the needs of utilities, industrial users and other customers.