NuScale Power Corporation (NYSE:SMR) Stock Has Average Target Price of $11.08

NuScale Power Corporation (NYSE:SMR) has been given an average recommendation of “Hold” by the sixteen ratings firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.08.

A number of brokerages have recently issued reports on SMR. Canaccord Genuity Group dropped their price objective on NuScale Power from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Barclays downgraded NuScale Power from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $11.00 to $5.00 in a report on Tuesday, October 20th. Truist Financial decreased their target price on shares of NuScale Power from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 22nd. Citigroup lowered their target price on shares of NuScale Power from $6.50 to $4.00 and set a “sell” rating on the stock in a report on Wednesday, October 21st. Finally, Royal Bank Of Canada dropped their price target on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th.

NuScale Power Stock Performance

SMR opened at $5.26 on Tuesday. The business’s 50-day simple moving average is $8.15 and its 200 day simple moving average is $11.20. NuScale Power has a 52-week low of $5.20 and a 52-week high of $45.54. The firm has a market capitalization of $2.26 billion, a PE ratio of -1.80 and a beta of 2.36.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%. The business’s revenue was down 99.1% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. On average, research analysts forecast that NuScale Power will post -0.64 earnings per share for the current year.

Insider Activity

In other news, COO Carl Fisher sold 18,771 shares of NuScale Power stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the completion of the transaction, the chief operating officer owned 114,718 shares of the company’s stock, valued at $1,073,760.48. This trade represents a 14.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 29,880 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $9.39, for a total transaction of $280,573.20. Following the transaction, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. This represents a 19.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 88,651 shares of company stock valued at $791,270 in the last quarter. Company insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in NuScale Power by 157.5% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,970 shares during the last quarter. Assetmark Inc. lifted its position in shares of NuScale Power by 1,940.3% in the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after buying an additional 2,309 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of NuScale Power in the second quarter valued at approximately $27,000. Nisa Investment Advisors LLC lifted its position in shares of NuScale Power by 69.6% in the third quarter. Nisa Investment Advisors LLC now owns 7,191 shares of the company’s stock valued at $57,000 after buying an additional 2,952 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of NuScale Power by 275.1% during the 3rd quarter. Signaturefd LLC now owns 7,693 shares of the company’s stock worth $61,000 after acquiring an additional 5,642 shares during the period. Institutional investors own 78.37% of the company’s stock.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for producing electricity and other forms of low-carbon energy. The company’s core product is the NuScale Power Module, a compact pressurized-water reactor designed to be manufactured in a factory, transported to a site and deployed in scalable configurations.

NuScale markets its technology through the VOYGR power plant platform, which can combine multiple reactor modules to meet the needs of utilities, industrial users and other customers.