Northland Securities Begins Coverage on NuScale Power (NYSE:SMR)

Research analysts at Northland Securities began coverage on shares of NuScale Power (NYSE:SMR - Get Free Report) in a report released on Monday, MarketBeat Ratings reports. The firm set a "market perform" rating and a $35.00 price target on the stock. Northland Securities' target price would indicate a potential downside of 4.94% from the company's previous close.

Several other equities research analysts have also commented on SMR. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Citigroup started coverage on shares of NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective on the stock. Finally, CLSA set a $41.00 price objective on shares of NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, NuScale Power has an average rating of "Hold" and an average target price of $32.00.

NuScale Power Stock Up 2.6%

Shares of SMR traded up $0.94 during trading hours on Monday, reaching $36.82. 6,894,236 shares of the company traded hands, compared to its average volume of 9,888,063. The company's fifty day moving average price is $30.05 and its two-hundred day moving average price is $22.86. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of -26.88 and a beta of 2.04. NuScale Power has a 12 month low of $6.88 and a 12 month high of $45.31.

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

Insider Transactions at NuScale Power

In related news, CEO John Lawrence Hopkins sold 34,675 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $17.00, for a total transaction of $589,475.00. Following the transaction, the chief executive officer owned 49,019 shares in the company, valued at $833,323. This represents a 41.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president owned 1,218 shares in the company, valued at approximately $20,632.92. This trade represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,278 shares of company stock worth $1,786,990. Corporate insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in NuScale Power during the first quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after buying an additional 359 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in NuScale Power during the fourth quarter valued at approximately $33,000. Twin Tree Management LP purchased a new stake in NuScale Power during the fourth quarter valued at approximately $42,000. Finally, NBC Securities Inc. increased its holdings in NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after buying an additional 3,309 shares during the last quarter. Institutional investors own 78.37% of the company's stock.

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.