B. Riley Lowers NuScale Power (NYSE:SMR) Price Target to $24.00

NuScale Power (NYSE:SMR) had its target price lowered by investment analysts at B. Riley from $38.00 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price indicates a potential upside of 50.54% from the stock’s previous close.

Several other equities analysts have also commented on the company. BNP Paribas lowered NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Barclays initiated coverage on shares of NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective on the stock. UBS Group set a $20.00 target price on shares of NuScale Power in a research note on Tuesday, November 25th. Citigroup reissued a “sell” rating and issued a $37.50 price target (down from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. Finally, Zacks Research lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, NuScale Power has a consensus rating of “Reduce” and a consensus price target of $35.18.

NuScale Power Price Performance

NuScale Power stock opened at $15.94 on Monday. The firm has a 50 day simple moving average of $27.36 and a 200-day simple moving average of $35.33. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of -5.57 and a beta of 2.09. NuScale Power has a 1-year low of $11.08 and a 1-year high of $57.42.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The firm 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 quarterly revenue was up 1635.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.18) EPS. Equities analysts expect that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $22.17, for a total transaction of $886,800.00. Following the sale, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at $1,026,094.11. This represents a 46.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total transaction of $3,479,082.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,156,666 shares of company stock worth $277,733,990 over the last quarter. Insiders own 1.20% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds have recently modified their holdings of SMR. Clear Street Group Inc. acquired a new position in NuScale Power during the 3rd quarter worth $155,616,000. Samsung C&T Corp raised its position in NuScale Power by 98.9% in the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after purchasing an additional 2,578,702 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of NuScale Power by 67.2% in the 3rd quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock valued at $190,362,000 after buying an additional 2,125,250 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after buying an additional 1,705,411 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of NuScale Power during the third quarter worth about $51,985,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.