B. Riley Boosts NuScale Power (NYSE:SMR) Price Target to $14.00

NuScale Power (NYSE:SMR) had its target price raised by B. Riley from $8.00 to $14.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the company a buy rating in a report on Monday, March 18th. Wells Fargo & Company restated an underweight rating and set a $4.50 price objective (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Finally, UBS Group lifted their target price on NuScale Power from $2.00 to $10.00 and gave the company a neutral rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $8.15.

NuScale Power Stock Down 2.4 %

SMR opened at $11.69 on Thursday. NuScale Power has a 52 week low of $1.81 and a 52 week high of $12.40. The company has a market capitalization of $2.84 billion, a P/E ratio of -13.75 and a beta of 1.17. The stock’s fifty day moving average is $7.69 and its two-hundred day moving average is $5.21.

NuScale Power (NYSE:SMR) last released 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). NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. The firm had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. During the same period in the previous year, the company posted ($0.16) earnings per share. Equities analysts anticipate that NuScale Power will post -0.64 earnings per share for the current year.

Insider Activity

In related news, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the transaction, the insider now directly owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CTO Jose N. Reyes, Jr. sold 15,776 shares of NuScale Power stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $95,287.04. Following the completion of the sale, the chief technology officer now directly owns 478,306 shares in the company, valued at $2,888,968.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the completion of the transaction, the insider now directly owns 43,549 shares in the company, valued at $263,035.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,131 shares of company stock worth $339,745. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in shares of NuScale Power during the fourth quarter worth about $25,000. Essex Private Wealth Management LLC acquired a new stake in NuScale Power during the 4th quarter valued at approximately $33,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of NuScale Power in the 1st quarter valued at $53,000. Sloy Dahl & Holst LLC acquired a new stake in shares of NuScale Power in the fourth quarter worth $33,000. Finally, Arizona State Retirement System purchased a new position in shares of NuScale Power during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.