Analysts Set NuScale Power Co. (NYSE:SMR) Target Price at $9.68

Shares of NuScale Power Co. (NYSE:SMR) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.68.

SMR has been the topic of a number of recent research reports. Craig Hallum initiated coverage on shares of NuScale Power in a research note on Thursday, September 26th. They set a “buy” rating and a $16.00 price target on the stock. B. Riley upped their target price on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock.

NuScale Power Stock Performance

NYSE:SMR opened at $12.00 on Tuesday. The stock has a 50-day moving average price of $9.67 and a 200 day moving average price of $8.77. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. NuScale Power has a 12-month low of $1.81 and a 12-month high of $16.91. The stock has a market capitalization of $2.99 billion, a P/E ratio of -14.11 and a beta of 1.25.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same quarter in the previous year, the firm earned ($0.13) EPS.

Insider Buying and Selling

In related news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the sale, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction dated 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 directly owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 374,729 shares of company stock valued at $4,178,595. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Swedbank AB acquired a new position in shares of NuScale Power during the first quarter worth $18,585,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power during the second quarter worth about $7,600,000. Bank of New York Mellon Corp increased its holdings in shares of NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after acquiring an additional 137,382 shares in the last quarter. Rheos Capital Works Inc. purchased a new position in shares of NuScale Power in the 1st quarter valued at approximately $1,328,000. Finally, Wedbush Securities Inc. boosted its stake in NuScale Power by 84.9% in the 2nd quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock worth $2,205,000 after purchasing an additional 86,600 shares in the last quarter. 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.