NuScale Power (NYSE:SMR) Stock Rating Upgraded by Bank of America

NuScale Power (NYSE:SMR) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a note issued to investors on Friday. The firm presently has a $28.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 42.63% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. BNP Paribas Exane cut shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. Citigroup reiterated a “sell” rating and issued a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. B. Riley lowered their price objective on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Zacks Research raised NuScale Power from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Cantor Fitzgerald started coverage on NuScale Power in a report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.75.

NuScale Power Stock Up 0.8%

SMR stock opened at $19.63 on Friday. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of -6.86 and a beta of 2.12. NuScale Power has a 52-week low of $11.08 and a 52-week high of $57.42. The stock’s fifty day simple moving average is $21.24 and its 200-day simple moving average is $33.52.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $11.29 million. During the same quarter last year, the company posted ($0.18) earnings per share. The business’s quarterly revenue was up 1635.2% compared to the same quarter last year. As a group, analysts anticipate that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. This represents a 46.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Private Wealth Partners LLC raised its stake in shares of NuScale Power by 39.4% during the second quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock valued at $910,000 after purchasing an additional 6,500 shares in the last quarter. Intech Investment Management LLC grew its position in NuScale Power by 72.3% in the 2nd quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock valued at $3,614,000 after buying an additional 38,347 shares in the last quarter. Truist Financial Corp raised its position in shares of NuScale Power by 23.3% during the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after buying an additional 9,016 shares in the last quarter. Black Swift Group LLC bought a new stake in shares of NuScale Power during the 2nd quarter worth about $585,000. Finally, Geode Capital Management LLC lifted its stake in shares of NuScale Power by 25.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after acquiring an additional 574,295 shares during the period. Institutional investors and hedge funds 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.