NuScale Power (NYSE:SMR) Price Target Raised to $14.00

NuScale Power (NYSE:SMR) had its target price upped by equities researchers at B. Riley from $8.00 to $14.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 21.48% from the stock’s current price.

Several other brokerages have also recently weighed in on SMR. UBS Group raised their price objective on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group lifted their price target on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.15.

NuScale Power Price Performance

Shares of NYSE SMR opened at $11.53 on Thursday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -13.56 and a beta of 1.17. The business has a 50-day moving average of $7.41 and a 200-day moving average of $5.07. NuScale Power has a fifty-two week low of $1.81 and a fifty-two week high of $12.15.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). The company had revenue of $1.38 million during the quarter, compared to analysts’ expectations of $3.15 million. NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. During the same quarter last year, the company earned ($0.16) EPS. On average, sell-side analysts expect that NuScale Power will post -0.64 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the sale, the general counsel now directly owns 19,054 shares in the company, valued at $115,657.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the sale, the general counsel now directly owns 19,054 shares in the company, valued at $115,657.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clayton Scott sold 7,191 shares of NuScale Power stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the sale, the insider now owns 43,549 shares of the company’s stock, valued at $263,035.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,131 shares of company stock worth $339,745. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in NuScale Power by 11.2% during the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock valued at $14,619,000 after purchasing an additional 301,548 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after buying an additional 204,505 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of NuScale Power during the fourth quarter worth $417,000. Rheos Capital Works Inc. bought a new stake in shares of NuScale Power during the first quarter worth $1,328,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NuScale Power by 5.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock worth $11,159,000 after buying an additional 172,408 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Company Profile

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.