NuScale Power (NYSE:SMR) Stock Gets Price Target Trim from Truist Financial

NuScale Power (NYSE:SMR) had its price target lowered by Truist Financial from $10.00 to $8.00 in a research report report published on Thursday, MarketBeat.com reports. The brokerage currently has a hold rating on the stock.

SMR has been the subject of a number of other reports. Northland Securities set a $16.00 target price on NuScale Power in a research note on Thursday, August 6th. Citigroup lowered their target price on NuScale Power from $6.50 to $4.00 and set a “sell” rating for the company in a report on Wednesday. UBS Group cut NuScale Power from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $10.00 to $6.00 in a research report on Friday, September 11th. B. Riley Financial cut their price target on NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Barclays downgraded NuScale Power from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $11.00 to $5.00 in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.08.

NuScale Power Stock Performance

NuScale Power stock opened at $5.38 on Thursday. NuScale Power has a 1 year low of $5.20 and a 1 year high of $45.54. The firm’s 50-day moving average is $8.24 and its 200-day moving average is $9.68. The company has a market cap of $2.31 billion, a P/E ratio of -1.84 and a beta of 2.36.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The business had revenue of $0.07 million during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 99.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) EPS. As a group, sell-side analysts predict that NuScale Power will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Shinji Fujino sold 20,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.86, for a total value of $177,200.00. Following the sale, the director owned 17,242 shares of the company’s stock, valued at $152,764.12. This trade represents a 53.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Hamady sold 20,000 shares of NuScale Power stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $7.89, for a total transaction of $157,800.00. Following the completion of the sale, the chief financial officer owned 144,235 shares in the company, valued at approximately $1,138,014.15. This represents a 12.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 88,651 shares of company stock valued at $791,270 in the last quarter. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in NuScale Power in the 1st quarter valued at approximately $59,141,000. Bank of America Corp DE boosted its position in NuScale Power by 33.4% during the 1st quarter. Bank of America Corp DE now owns 2,062,232 shares of the company’s stock worth $22,355,000 after acquiring an additional 516,097 shares during the period. Swedbank AB boosted its position in NuScale Power by 36.3% during the 1st quarter. Swedbank AB now owns 1,502,300 shares of the company’s stock worth $16,285,000 after acquiring an additional 400,240 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in NuScale Power during the 1st quarter worth $4,336,000. Finally, Empowered Funds LLC bought a new position in shares of NuScale Power in the first quarter worth $1,404,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.