NuScale Power (NYSE:SMR) Given New $10.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial cut NuScale Power’s price target from $15 to $10 while maintaining a “buy” rating, implying roughly 75% upside from the reported $5.71 share price.
• Analyst sentiment remains mixed: MarketBeat’s consensus rating is “hold,” with an average price target of $10.67; recent targets range from $4 to $16, including “sell” ratings from UBS, Citigroup and Weiss Ratings.
• NuScale reported a quarterly loss of $0.13 per share and revenue of just $0.07 million, down 99.1% year over year. Insiders sold 88,651 shares worth approximately $791,270 over the past quarter.

NuScale Power (NYSE:SMR - Get Free Report) had its target price dropped by research analysts at B. Riley Financial from $15.00 to $10.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's price objective would suggest a potential upside of 74.98% from the company's current price.

Several other equities analysts also recently issued reports on SMR. Truist Financial decreased their price objective on shares of NuScale Power from $10.00 to $8.00 and set a "hold" rating for the company in a research note on Thursday, October 22nd. UBS Group cut NuScale Power from a "neutral" rating to a "sell" rating and cut their target price for the stock from $10.00 to $6.00 in a research report on Friday, September 11th. Northland Securities set a $16.00 target price on NuScale Power in a report on Thursday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of NuScale Power in a research report on Monday, September 21st. Finally, Citigroup dropped their price target on NuScale Power from $6.50 to $4.00 and set a "sell" rating on the stock in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.67.

NuScale Power Trading Up 8.4%

Shares of NuScale Power stock opened at $5.71 on Wednesday. The company has a fifty day simple moving average of $8.08 and a 200-day simple moving average of $11.14. NuScale Power has a 12-month low of $5.20 and a 12-month high of $45.54. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -1.96 and a beta of 2.36.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting analysts' consensus estimates of ($0.13). The company had revenue of $0.07 million during the quarter, compared to analysts' expectations of $8.80 million. During the same period last year, the business earned ($0.11) earnings per share. The company's quarterly revenue was down 99.1% on a year-over-year basis. On average, analysts forecast that NuScale Power will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shinji Fujino sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total value of $177,200.00. Following the transaction, the director owned 17,242 shares in the company, valued at $152,764.12. The trade was a 53.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert Hamady sold 29,880 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $9.39, for a total value of $280,573.20. Following the completion of the transaction, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. This trade represents a 19.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 88,651 shares of company stock valued at $791,270 over the last quarter. 1.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. lifted its holdings in NuScale Power by 266.2% in the third quarter. D.A. Davidson & CO. now owns 140,819 shares of the company's stock valued at $1,112,000 after acquiring an additional 102,360 shares during the period. Victory Financial Group LLC boosted its position in shares of NuScale Power by 20.9% during the 3rd quarter. Victory Financial Group LLC now owns 23,756 shares of the company's stock worth $188,000 after purchasing an additional 4,106 shares in the last quarter. Signaturefd LLC grew its stake in shares of NuScale Power by 275.1% during the 3rd quarter. Signaturefd LLC now owns 7,693 shares of the company's stock worth $61,000 after purchasing an additional 5,642 shares during the period. Gibbs Wealth Management acquired a new position in shares of NuScale Power during the 3rd quarter worth $93,000. Finally, Sterling Capital Management LLC grew its stake in shares of NuScale Power by 904.2% during the 3rd quarter. Sterling Capital Management LLC now owns 11,488 shares of the company's stock worth $91,000 after purchasing an additional 10,344 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for producing electricity and other forms of low-carbon energy. The company's core product is the NuScale Power Module, a compact pressurized-water reactor designed to be manufactured in a factory, transported to a site and deployed in scalable configurations.

NuScale markets its technology through the VOYGR power plant platform, which can combine multiple reactor modules to meet the needs of utilities, industrial users and other customers.

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