NuScale Power (NYSE:SMR) Research Coverage Started at Craig Hallum

Investment analysts at Craig Hallum began coverage on shares of NuScale Power (NYSE:SMR) in a research note issued to investors on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Craig Hallum’s price objective would suggest a potential upside of 33.00% from the stock’s current price.

A number of other analysts have also issued reports on SMR. CLSA assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. B. Riley raised their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power currently has a consensus rating of “Moderate Buy” and an average price target of $9.68.

NuScale Power Price Performance

NuScale Power stock opened at $12.03 on Thursday. The stock has a market capitalization of $2.92 billion, a P/E ratio of -14.15 and a beta of 1.22. NuScale Power has a 12-month low of $1.81 and a 12-month high of $16.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The firm’s 50-day moving average is $9.32 and its two-hundred day moving average is $8.33.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. During the same quarter last year, the business posted ($0.13) EPS. Equities analysts predict that NuScale Power will post -0.55 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In related news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $153,188.60. The disclosure for this sale can be found here. Insiders have sold a total of 231,171 shares of company stock worth $2,385,970 in the last quarter. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB purchased a new stake in NuScale Power during the 1st quarter worth $18,585,000. Van ECK Associates Corp purchased a new stake in NuScale Power during the 2nd quarter worth $7,600,000. Bank of New York Mellon Corp increased its stake in NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares during the period. Rheos Capital Works Inc. purchased a new stake in NuScale Power during the 1st quarter worth $1,328,000. Finally, Wedbush Securities Inc. increased its stake in NuScale Power by 84.9% during the 2nd quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock worth $2,205,000 after buying an additional 86,600 shares during the period. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.