NuScale Power Co. (NYSE:SMR – Get Free Report) 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
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 – Get Free Report) 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.
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