Analysts Set NuScale Power Co. (NYSE:SMR) PT at $8.63

Shares of NuScale Power Co. (NYSE:SMR) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.63.

Several equities research analysts recently commented on SMR shares. CLSA began coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. B. Riley raised their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th.

NuScale Power Trading Up 4.8 %

Shares of NYSE SMR opened at $9.61 on Friday. The firm’s 50 day moving average price is $9.69 and its 200-day moving average price is $8.11. NuScale Power has a 52-week low of $1.81 and a 52-week high of $16.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market cap of $2.39 billion, a PE ratio of -11.31 and a beta of 1.22.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The business had revenue of $0.97 million during the quarter, compared to the consensus estimate 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 last year, the company posted ($0.13) earnings per share. On average, equities research analysts expect that NuScale Power will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,544 shares of company stock valued at $809,536. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMR. Truist Financial Corp purchased a new position in NuScale Power during the second quarter valued at approximately $177,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of NuScale Power during the 2nd quarter valued at $419,000. The Manufacturers Life Insurance Company lifted its stake in shares of NuScale Power by 37.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock valued at $345,000 after buying an additional 8,096 shares in the last quarter. Squarepoint Ops LLC bought a new position in NuScale Power in the 2nd quarter worth $783,000. Finally, Sei Investments Co. purchased a new stake in NuScale Power in the 2nd quarter worth $520,000. 15.28% of the stock is currently owned by 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.