NuScale Power Corporation (NYSE:SMR) Given Average Rating of "Hold" by Brokerages

NuScale Power Corporation (NYSE:SMR - Get Free Report) has been assigned an average rating of "Hold" from the nine analysts that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $32.00.

SMR has been the subject of a number of research reports. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Northland Securities began coverage on NuScale Power in a report on Monday. They set a "market perform" rating and a $35.00 target price for the company. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. UBS Group raised their target price on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Finally, CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th.

Insider Activity at NuScale Power

In related news, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the transaction, the vice president owned 1,218 shares of the company's stock, valued at $20,632.92. This represents a 56.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.78, for a total value of $168,118.82. Following the completion of the transaction, the insider directly owned 86,965 shares in the company, valued at $1,459,272.70. This trade represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,278 shares of company stock valued at $1,786,990 over the last quarter. 1.27% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently bought and sold shares of the stock. Kaizen Financial Strategies acquired a new position in NuScale Power in the first quarter valued at $204,000. Raymond James Financial Inc. acquired a new stake in shares of NuScale Power during the fourth quarter worth about $2,755,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of NuScale Power by 31.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock worth $2,734,000 after buying an additional 46,744 shares during the period. HighTower Advisors LLC boosted its stake in shares of NuScale Power by 51.0% during the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after buying an additional 6,175 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of NuScale Power by 2,980.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after buying an additional 3,576 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Price Performance

SMR traded up $1.58 during trading hours on Wednesday, reaching $37.60. The company's stock had a trading volume of 10,406,890 shares, compared to its average volume of 9,911,064. NuScale Power has a fifty-two week low of $6.88 and a fifty-two week high of $45.31. The stock has a market cap of $10.69 billion, a PE ratio of -27.45 and a beta of 2.04. The business's 50-day moving average is $31.56 and its 200-day moving average is $23.26.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The firm had revenue of $13.38 million for the quarter, compared to analysts' expectations of $1.46 million. Analysts expect that NuScale Power will post -0.73 EPS for the current year.

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.