Craig Hallum Begins Coverage on NuScale Power (NYSE:SMR)

Craig Hallum initiated coverage on shares of NuScale Power (NYSE:SMR) in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

SMR has been the topic of several other research reports. B. Riley lifted their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the stock a buy rating in a research note on Thursday, June 27th. CLSA started coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an outperform rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $9.68.

NuScale Power Stock Up 5.6 %

Shares of NYSE SMR opened at $12.55 on Thursday. The firm’s 50-day moving average is $9.32 and its 200-day moving average is $8.42. NuScale Power has a 1 year low of $1.81 and a 1 year high of $16.91. The firm has a market capitalization of $3.13 billion, a PE ratio of -14.76 and a beta of 1.22. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. During the same period in the previous year, the business earned ($0.13) EPS. Equities analysts expect that NuScale Power will post -0.55 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares of the company’s stock, valued at $266,539.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares in the company, valued at $190,540. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 306,171 shares of company stock valued at $3,285,970. 1.96% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Price T Rowe Associates Inc. MD increased its holdings in NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after buying an additional 4,014 shares during the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power during the second quarter worth $64,000. TFC Financial Management Inc. acquired a new position in NuScale Power during the second quarter worth $75,000. Resurgent Financial Advisors LLC increased its holdings in NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after buying an additional 7,400 shares during the last quarter. Finally, Evanson Asset Management LLC increased its holdings in NuScale Power by 44.3% during the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after buying an additional 7,986 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Company Profile

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.