NuScale Power (NYSE:SMR) Stock Price Target Lowered at Truist Financial

NuScale Power (NYSE:SMR) had its target price lowered by research analysts at Truist Financial from $10.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 45.59% from the stock’s current price.

SMR has been the topic of a number of other reports. B. Riley Financial reduced their price objective on shares of NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Royal Bank Of Canada lowered their target price on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 11th. UBS Group cut shares of NuScale Power from a “neutral” rating to a “sell” rating and cut their price target for the company from $10.00 to $6.00 in a research report on Friday, September 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Monday, September 21st. Finally, Canaccord Genuity Group lowered their price objective on NuScale Power from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.08.

NuScale Power Trading Down 1.5%

Shares of SMR opened at $5.50 on Thursday. The stock’s 50-day moving average price is $8.41 and its two-hundred day moving average price is $9.75. NuScale Power has a 12 month low of $5.33 and a 12 month high of $45.54. The company has a market capitalization of $2.36 billion, a PE ratio of -1.88 and a beta of 2.36.

NuScale Power (NYSE:SMR) last released its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The business had revenue of $0.07 million during the quarter, compared to the consensus estimate of $8.80 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was down 99.1% compared to the same quarter last year. Equities research analysts predict that NuScale Power will post -0.64 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In related news, COO Carl M. Fisher sold 18,771 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total value of $175,696.56. Following the transaction, the chief operating officer owned 114,718 shares of the company’s stock, valued at $1,073,760.48. This represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 29,880 shares of NuScale Power stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $9.39, for a total transaction of $280,573.20. Following the transaction, the chief financial officer directly owned 124,235 shares in the company, valued at $1,166,566.65. This trade represents a 19.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 88,651 shares of company stock valued at $791,270 over the last three months. Company insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Axxcess Wealth Management LLC raised its stake in NuScale Power by 33.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 68,236 shares of the company’s stock valued at $539,000 after buying an additional 17,236 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of NuScale Power by 69.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 7,191 shares of the company’s stock worth $57,000 after buying an additional 2,952 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in shares of NuScale Power by 2.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 197,337 shares of the company’s stock worth $1,559,000 after buying an additional 5,080 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in shares of NuScale Power by 57.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 33,797 shares of the company’s stock worth $267,000 after acquiring an additional 12,300 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of NuScale Power by 157.5% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after acquiring an additional 1,970 shares during the period. Hedge funds and other institutional investors 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.