NuScale Power (NYSE:SMR) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of NuScale Power (NYSE:SMR) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Several other analysts have also commented on SMR. BNP Paribas Exane lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Cantor Fitzgerald initiated coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Citigroup reiterated a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Finally, Barclays initiated coverage on shares of NuScale Power in a research note on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, NuScale Power presently has an average rating of “Hold” and a consensus price target of $33.42.

NuScale Power Trading Up 3.5%

SMR traded up $0.68 during midday trading on Tuesday, hitting $20.43. 12,872,794 shares of the company were exchanged, compared to its average volume of 33,848,391. NuScale Power has a 1-year low of $11.08 and a 1-year high of $57.42. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -7.20 and a beta of 2.12. The company’s 50 day simple moving average is $18.73 and its 200 day simple moving average is $32.35.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The company had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm’s revenue was up 1635.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) earnings per share. On average, equities analysts anticipate that NuScale Power will post -0.73 EPS for the current year.

Insider Activity

In other news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer directly owned 46,283 shares in the company, valued at $1,026,094.11. This represents a 46.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CX Institutional purchased a new stake in shares of NuScale Power in the third quarter valued at approximately $25,000. Nemes Rush Group LLC acquired a new position in NuScale Power during the third quarter worth $25,000. Strategic Advocates LLC purchased a new stake in NuScale Power in the 3rd quarter valued at $25,000. Indiana Trust & Investment Management Co acquired a new stake in shares of NuScale Power in the 3rd quarter worth $34,000. Finally, Accredited Wealth Management LLC acquired a new stake in shares of NuScale Power in the 3rd quarter worth $35,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.