NuScale Power (NYSE:SMR) Now Covered by Analysts at Citigroup

Citigroup assumed coverage on shares of NuScale Power (NYSE:SMR - Free Report) in a research report report published on Monday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $46.00 target price on the stock.

Other equities analysts also recently issued reports about the company. CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a "buy" rating in a report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. BTIG Research reissued a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. Finally, UBS Group increased their price objective on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.38.

NuScale Power Trading Down 1.0%

NYSE SMR traded down $0.38 on Monday, hitting $38.29. 9,808,841 shares of the company's stock were exchanged, compared to its average volume of 9,787,439. The stock has a 50-day moving average of $26.99 and a 200-day moving average of $22.08. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of -27.95 and a beta of 2.00. NuScale Power has a 52 week low of $6.88 and a 52 week high of $45.31.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. As a group, analysts predict that NuScale Power will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In related news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. This trade represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Lawrence Hopkins sold 34,675 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 49,019 shares in the company, valued at $833,323. This trade represents a 41.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,278 shares of company stock valued at $2,286,280. Corporate insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kaizen Financial Strategies bought a new stake in shares of NuScale Power in the 1st quarter worth $204,000. Raymond James Financial Inc. purchased a new stake in NuScale Power during the fourth quarter worth about $2,755,000. HighTower Advisors LLC raised its position in NuScale Power by 51.0% in the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after acquiring an additional 6,175 shares during the period. PNC Financial Services Group Inc. boosted its stake in NuScale Power by 2,980.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after acquiring an additional 3,576 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of NuScale Power by 17.9% during the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock valued at $1,429,000 after acquiring an additional 12,070 shares during the period. Hedge funds and other 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.