NuScale Power (NYSE:SMR) Coverage Initiated by Analysts at Bank of America

Research analysts at Bank of America initiated coverage on shares of NuScale Power (NYSE:SMR) in a research note issued to investors on Friday. The firm set a “neutral” rating and a $12.00 price target on the stock. Bank of America‘s target price points to a potential upside of 3.72% from the stock’s current price.

SMR has been the subject of a number of other research reports. Cantor Fitzgerald decreased their price objective on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. Barclays decreased their target price on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. B. Riley Financial cut their price objective on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Zacks Research raised NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Northland Securities set a $19.00 price target on shares of NuScale Power in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.85.

NuScale Power Trading Up 2.1%

Shares of NYSE:SMR traded up $0.24 during midday trading on Friday, hitting $11.57. The company had a trading volume of 9,406,818 shares, compared to its average volume of 28,818,615. NuScale Power has a 12 month low of $8.85 and a 12 month high of $57.42. The firm has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $16.08. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -3.97 and a beta of 2.24.

NuScale Power (NYSE:SMR) last released 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 company had revenue of $0.57 million during the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. NuScale Power’s revenue for the quarter was down 95.8% compared to the same quarter last year. Equities analysts forecast that NuScale Power will post -0.46 EPS for the current fiscal year.

Insider Activity

In other NuScale Power news, COO Carl M. Fisher sold 22,197 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $271,247.34. Following the sale, the chief operating officer directly owned 140,141 shares of the company’s stock, valued at approximately $1,712,523.02. This represents a 13.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 18,570 shares of NuScale Power stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $226,925.40. Following the completion of the transaction, the chief financial officer directly owned 97,192 shares of the company’s stock, valued at approximately $1,187,686.24. This trade represents a 16.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 40,572,082 shares of company stock valued at $481,029,608. 1.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of SMR. Van ECK Associates Corp grew its stake in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after acquiring an additional 6,227,747 shares in the last quarter. Renaissance Technologies LLC bought a new stake in NuScale Power in the 1st quarter valued at about $59,141,000. Vanguard Group Inc. grew its position in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after purchasing an additional 4,482,254 shares in the last quarter. Clear Street Group Inc. bought a new position in shares of NuScale Power during the third quarter worth approximately $155,616,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of NuScale Power in the fourth quarter valued at approximately $48,993,000. 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.