NuScale Power (NYSE:SMR) Price Target Raised to $34.00

NuScale Power (NYSE:SMR - Get Free Report) had its price target hoisted by equities research analysts at UBS Group from $17.00 to $34.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's target price suggests a potential upside of 0.09% from the stock's current price.

Several other brokerages also recently issued reports on SMR. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a research note on Tuesday. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the company a "buy" rating in a report on Thursday. BTIG Research reissued a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, NuScale Power has an average rating of "Moderate Buy" and a consensus price target of $27.00.

NuScale Power Price Performance

Shares of NYSE:SMR traded down $1.40 on Thursday, hitting $33.97. The company had a trading volume of 16,087,797 shares, compared to its average volume of 9,016,368. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.66 billion, a PE ratio of -35.65 and a beta of 1.62. NuScale Power has a 52-week low of $6.61 and a 52-week high of $36.85. The business has a 50 day moving average of $18.45 and a 200 day moving average of $20.65.

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 the consensus estimate of ($0.17) by $0.06. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The firm had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. As a group, equities analysts anticipate that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the transaction, the chief financial officer now directly owns 29,985 shares of the company's stock, valued at approximately $470,764.50. The trade was a 51.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the sale, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This trade represents a 95.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,392 shares of company stock worth $3,138,221. 1.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of SMR. CoreCap Advisors LLC bought a new stake in shares of NuScale Power in the 4th quarter worth approximately $33,000. Quantbot Technologies LP acquired a new stake in NuScale Power in the first quarter worth $27,000. Venturi Wealth Management LLC increased its position in NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after buying an additional 1,500 shares during the period. Twin Tree Management LP bought a new stake in NuScale Power in the fourth quarter valued at $42,000. Finally, Amalgamated Bank boosted its holdings in shares of NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after acquiring an additional 986 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.