NuScale Power (NYSE:SMR) Shares Gap Up Following Analyst Upgrade

NuScale Power Co. (NYSE:SMR) gapped up prior to trading on Thursday after B. Riley raised their price target on the stock from $8.00 to $14.00. The stock had previously closed at $11.52, but opened at $12.01. B. Riley currently has a buy rating on the stock. NuScale Power shares last traded at $11.71, with a volume of 975,681 shares trading hands.

A number of other research analysts also recently weighed in on SMR. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 price target (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. UBS Group increased their price objective on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Finally, Canaccord Genuity Group increased their price objective on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.15.

Insider Activity at NuScale Power

In related news, insider Clayton Scott sold 7,191 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the sale, the insider now directly owns 43,549 shares of the company’s stock, valued at $263,035.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the transaction, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $43,433.64. Following the completion of the transaction, the insider now directly owns 43,549 shares of the company’s stock, valued at $263,035.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,131 shares of company stock valued at $339,745. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of NuScale Power in the fourth quarter worth $25,000. Essex Private Wealth Management LLC bought a new stake in NuScale Power during the fourth quarter valued at $33,000. Mesirow Financial Investment Management Inc. bought a new stake in NuScale Power during the first quarter valued at $53,000. Sloy Dahl & Holst LLC bought a new stake in NuScale Power during the fourth quarter valued at $33,000. Finally, Arizona State Retirement System bought a new stake in NuScale Power during the fourth quarter valued at $34,000. 15.28% of the stock is owned by institutional investors.

NuScale Power Price Performance

The company has a market cap of $2.91 billion, a P/E ratio of -13.56 and a beta of 1.17. The company has a 50 day moving average of $7.41 and a 200-day moving average of $5.07.

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

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.