BNP Paribas Exane Downgrades NuScale Power (NYSE:SMR) to Underperform

NuScale Power (NYSE:SMR) was downgraded by BNP Paribas Exane from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald initiated coverage on NuScale Power in a research report on Tuesday. They set an “overweight” rating and a $55.00 price objective for the company. Bank of America reiterated an “underperform” rating and set a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. UBS Group upped their price objective on NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Citigroup reissued a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a report on Tuesday. Finally, Northland Securities began coverage on NuScale Power in a research note on Monday, July 7th. They issued a “market perform” rating and a $35.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $37.73.

NuScale Power Price Performance

SMR stock opened at $34.67 on Tuesday. NuScale Power has a 1-year low of $11.08 and a 1-year high of $57.42. The business has a fifty day moving average price of $38.36 and a 200-day moving average price of $33.82. The stock has a market capitalization of $9.88 billion, a P/E ratio of -29.13 and a beta of 2.02.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The business had revenue of $8.05 million during the quarter, compared to analysts’ expectations of $10.49 million. As a group, analysts anticipate that NuScale Power will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 15,048,847 shares of company stock valued at $606,761,579 over the last three months. Corporate insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Quantbot Technologies LP purchased a new stake in shares of NuScale Power in the first quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after buying an additional 359 shares in the last quarter. Indiana Trust & Investment Management Co purchased a new stake in shares of NuScale Power in the third quarter worth about $34,000. Rothschild Investment LLC lifted its position in shares of NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company’s stock worth $45,000 after buying an additional 350 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock worth $46,000 after buying an additional 203 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.