NuScale Power (NYSE:SMR) Now Covered by Analysts at CLSA

CLSA began coverage on shares of NuScale Power (NYSE:SMR) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $11.00 price target on the stock. CLSA’s target price would suggest a potential upside of 13.64% from the company’s current price.

Separately, B. Riley increased their price objective on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.63.

NuScale Power Stock Up 12.2 %

SMR opened at $9.68 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.41 billion, a P/E ratio of -11.39 and a beta of 1.22. NuScale Power has a 52 week low of $1.81 and a 52 week high of $16.91. The business’s fifty day simple moving average is $9.93 and its 200 day simple moving average is $7.98.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period in the previous year, the business earned ($0.13) EPS. As a group, equities research analysts anticipate that NuScale Power will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,544 shares of company stock valued at $761,686. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Large investors have recently modified their holdings of the company. Avantax Advisory Services Inc. purchased a new position in shares of NuScale Power in the 1st quarter worth about $58,000. SG Americas Securities LLC raised its holdings in shares of NuScale Power by 268.3% in the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after purchasing an additional 39,171 shares during the period. Quadrature Capital Ltd purchased a new position in shares of NuScale Power in the 4th quarter worth about $417,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power during the 2nd quarter valued at about $7,600,000. Finally, Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power during the 1st quarter valued at about $1,328,000. 15.28% 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.