On October 20, NuScale Power fell 8.44% in Pre-Market Trading, trading at $5.2194 per share, with turnover of $3.6036 million.
The direct catalyst was a fresh analyst downgrade: Barclays lowered NuScale Power to Underweight from Equalweight and set a $5 price target.
The downgrade adds to a recent string of more cautious Wall Street views on the company. Earlier this month, RBC reduced its target price to $7 from $10 while maintaining Sector Perform with a speculative risk designation, and in September, UBS downgraded the stock to Sell from Neutral and cut its target to $6 from $10. Consensus data cited alongside those analyst updates showed NuScale Power carried an average Hold rating, while the latest Barclays target implies limited upside from already depressed levels ahead of its next earnings report scheduled for November 5.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)