NuScale Power (NYSE:SMR) Given New $21.00 Price Target at Craig Hallum

NuScale Power (NYSE:SMR) had its price target boosted by Craig Hallum from $16.00 to $21.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

SMR has been the topic of a number of other research reports. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. B. Riley upped their price objective on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, NuScale Power has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Trading Up 1.1 %

Shares of SMR stock opened at $18.21 on Thursday. The stock has a market cap of $4.43 billion, a P/E ratio of -21.42 and a beta of 1.25. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. NuScale Power has a fifty-two week low of $1.81 and a fifty-two week high of $20.35. The business has a fifty day simple moving average of $10.55 and a 200-day simple moving average of $9.27.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same quarter in the previous year, the firm posted ($0.13) EPS.

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 144,627 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $153,188.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at $153,188.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Carl M. Fisher sold 12,302 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 490,595 shares of company stock worth $6,287,356 over the last quarter. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently made changes to their positions in the stock. Swedbank AB acquired a new position in NuScale Power in the first quarter valued at $18,585,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power during the 2nd quarter worth about $7,600,000. Bank of New York Mellon Corp increased its position in NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after purchasing an additional 137,382 shares in the last quarter. Rheos Capital Works Inc. purchased a new position in NuScale Power in the first quarter valued at approximately $1,328,000. Finally, Wedbush Securities Inc. lifted its position in NuScale Power by 84.9% during the second quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock valued at $2,205,000 after buying an additional 86,600 shares in the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.