NuScale Power (NYSE:SMR) Price Target Increased to $14.00 by Analysts at B. Riley

NuScale Power (NYSE:SMR) had its target price lifted by research analysts at B. Riley from $8.00 to $14.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target points to a potential upside of 19.66% from the company’s current price.

Several other brokerages have also commented on SMR. UBS Group upped their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company restated an “underweight” rating and issued a $4.50 price objective (down from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group increased their price target on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, NuScale Power has an average rating of “Hold” and a consensus price target of $8.15.

NuScale Power Stock Down 2.3 %

NYSE:SMR opened at $11.70 on Thursday. The company has a fifty day moving average of $7.69 and a 200 day moving average of $5.18. NuScale Power has a 52 week low of $1.81 and a 52 week high of $12.40. The firm has a market capitalization of $2.84 billion, a P/E ratio of -13.76 and a beta of 1.17.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The company had revenue of $1.38 million during the quarter, compared to analyst estimates of $3.15 million. During the same period in the prior year, the business posted ($0.16) EPS. As a group, analysts anticipate that NuScale Power will post -0.64 EPS for the current year.

Insider Buying and Selling

In related news, insider Clayton Scott sold 7,191 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now directly owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $95,287.04. Following the sale, the chief technology officer now directly owns 478,306 shares of the company’s stock, valued at approximately $2,888,968.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now directly owns 43,549 shares in the company, valued at $263,035.96. The disclosure for this sale can be found here. Insiders sold a total of 56,131 shares of company stock worth $339,745 in the last three months. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. Swiss National Bank boosted its holdings in shares of NuScale Power by 17.2% during the 3rd quarter. Swiss National Bank now owns 62,600 shares of the company’s stock valued at $307,000 after acquiring an additional 9,200 shares during the last quarter. FMR LLC boosted its holdings in shares of NuScale Power by 11.2% during the 3rd quarter. FMR LLC now owns 2,983,460 shares of the company’s stock valued at $14,619,000 after acquiring an additional 301,548 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of NuScale Power by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after purchasing an additional 204,505 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in shares of NuScale Power in the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC bought a new position in shares of NuScale Power in the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 15.28% 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.