NuScale Power (NYSE:SMR) Given New $10.00 Price Target at UBS Group

NuScale Power (NYSE:SMR - Get Free Report) had its target price raised by stock analysts at UBS Group from $2.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target suggests a potential upside of 105.13% from the stock's current price.

Several other research firms have also issued reports on SMR. Canaccord Genuity Group started coverage on shares of NuScale Power in a research report on Monday, January 29th. They issued a "buy" rating and a $4.25 price target on the stock. Wells Fargo & Company restated an "underweight" rating and issued a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price target on shares of NuScale Power from $4.25 to $8.00 and gave the stock a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $8.88.

NuScale Power Price Performance

Shares of NYSE SMR traded down $1.70 during mid-day trading on Tuesday, reaching $4.88. 18,129,321 shares of the company traded hands, compared to its average volume of 3,606,344. NuScale Power has a fifty-two week low of $1.81 and a fifty-two week high of $11.21. The firm has a market cap of $1.13 billion, a PE ratio of -6.30 and a beta of 0.90. The stock has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $3.78.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in shares of NuScale Power by 11.2% in the 3rd quarter. FMR LLC now owns 2,983,460 shares of the company's stock valued at $14,619,000 after purchasing an additional 301,548 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of NuScale Power in the 3rd quarter valued at $439,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NuScale Power by 54.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company's stock valued at $15,774,000 after purchasing an additional 1,132,131 shares during the last quarter. Swiss National Bank lifted its stake in shares of NuScale Power by 17.2% in the 3rd quarter. Swiss National Bank now owns 62,600 shares of the company's stock valued at $307,000 after purchasing an additional 9,200 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of NuScale Power by 66.9% in the 3rd quarter. Van ECK Associates Corp now owns 158,470 shares of the company's stock valued at $777,000 after purchasing an additional 63,519 shares during the last quarter. Institutional investors and hedge funds own 10.67% 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.