NuScale Power Corporation (NYSE:SMR) Given Consensus Recommendation of “Hold” by Brokerages

NuScale Power Corporation (NYSE:SMR) has received a consensus recommendation of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.9167.

Several analysts have recently issued reports on the company. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research note on Friday, May 8th. Canaccord Genuity Group reduced their price objective on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Royal Bank Of Canada decreased their price objective on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Cantor Fitzgerald decreased their price objective on NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Finally, Citigroup decreased their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th.

NuScale Power Stock Up 3.9%

Shares of SMR opened at $12.67 on Friday. NuScale Power has a fifty-two week low of $8.85 and a fifty-two week high of $57.42. The firm’s 50 day moving average price is $11.41 and its 200 day moving average price is $15.24. The company has a market cap of $4.63 billion, a P/E ratio of -4.34 and a beta of 2.24.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $0.57 million for the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The firm’s quarterly revenue was down 95.8% on a year-over-year basis. Research analysts forecast that NuScale Power will post -0.46 earnings per share for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 82,667 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the transaction, the chief executive officer owned 117,018 shares in the company, valued at $1,429,959.96. The trade was a 41.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Clayton Scott sold 22,478 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $12.22, for a total transaction of $274,681.16. Following the transaction, the insider owned 132,852 shares of the company’s stock, valued at $1,623,451.44. This trade represents a 14.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,108,335 shares of company stock worth $474,931,335 over the last ninety days. 1.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently bought and sold shares of the business. Cibc World Market Inc. boosted its stake in NuScale Power by 3.8% in the third quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock valued at $324,000 after acquiring an additional 329 shares in the last quarter. MAI Capital Management boosted its stake in NuScale Power by 37.0% in the third quarter. MAI Capital Management now owns 1,654 shares of the company’s stock valued at $60,000 after acquiring an additional 447 shares in the last quarter. Arizona State Retirement System boosted its stake in NuScale Power by 1.7% in the third quarter. Arizona State Retirement System now owns 35,523 shares of the company’s stock valued at $1,279,000 after acquiring an additional 587 shares in the last quarter. Harbour Investments Inc. boosted its stake in NuScale Power by 32.4% in the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock valued at $34,000 after acquiring an additional 592 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in NuScale Power by 7.6% in the third quarter. Principal Financial Group Inc. now owns 9,706 shares of the company’s stock valued at $349,000 after acquiring an additional 688 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.