NuScale Power Corporation (NYSE:SMR) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• NuScale Power Corporation has received an average rating of "Hold" from analysts, with eight hold recommendations and three buy recommendations.
• The company's twelve-month price target among analysts is $33.00, with CLSA setting a more bullish target of $41.00 and Citigroup at $46.00.
• Recent insider trading activity revealed that transactions included a 10.33% decrease in ownership for one insider, who sold shares valued at over $168,000.

NuScale Power Corporation (NYSE:SMR - Get Free Report) has received an average rating of "Hold" from the eleven ratings firms that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $33.00.

A number of equities research analysts have commented on the company. BNP Paribas upgraded NuScale Power to a "hold" rating in a research report on Friday, July 25th. UBS Group upped their target price on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. CLSA set a $41.00 price target on NuScale Power and gave the stock an "outperform" rating in a report on Tuesday, May 27th. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Citigroup began coverage on shares of NuScale Power in a research note on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target on the stock.

NuScale Power Stock Performance

SMR traded down $1.07 during midday trading on Friday, hitting $43.36. 14,383,392 shares of the company traded hands, compared to its average volume of 13,010,519. NuScale Power has a 52-week low of $6.88 and a 52-week high of $53.50. The business has a 50 day simple moving average of $39.77 and a two-hundred day simple moving average of $26.32.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. Equities analysts anticipate that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 26,345 shares of NuScale Power stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Institutional investors have recently added to or reduced their stakes in the business. IFG Advisory LLC bought a new position in NuScale Power during the 2nd quarter worth $213,000. Spire Wealth Management grew its stake in NuScale Power by 6,164.4% during the 2nd quarter. Spire Wealth Management now owns 4,573 shares of the company's stock worth $181,000 after buying an additional 4,500 shares during the last quarter. Private Wealth Partners LLC grew its position in shares of NuScale Power by 39.4% during the second quarter. Private Wealth Partners LLC now owns 23,000 shares of the company's stock worth $910,000 after acquiring an additional 6,500 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of NuScale Power during the second quarter worth about $3,065,000. Finally, First Command Advisory Services Inc. bought a new position in shares of NuScale Power during the second quarter worth about $71,000. Institutional investors own 78.37% 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.