Craig Hallum Raises NuScale Power (NYSE:SMR) Price Target to $21.00

NuScale Power (NYSE:SMR) had its price objective hoisted by research analysts at Craig Hallum from $16.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 16.09% from the company’s current price.

Several other research analysts also recently weighed in on the stock. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. B. Riley upped their price target on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Down 5.1 %

SMR stock opened at $18.09 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. NuScale Power has a 12 month low of $1.81 and a 12 month high of $19.41. The firm has a market capitalization of $4.51 billion, a PE ratio of -18.50 and a beta of 1.25. The company’s 50 day simple moving average is $10.19 and its 200-day simple moving average is $9.07.

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

Insider Activity at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 374,729 shares of company stock worth $4,178,595. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Large investors have recently modified their holdings of the business. Avantax Advisory Services Inc. purchased a new position in NuScale Power in the first quarter valued at about $58,000. SG Americas Securities LLC grew its position in shares of NuScale Power by 268.3% during the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after buying an additional 39,171 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of NuScale Power in the fourth quarter worth $417,000. Van ECK Associates Corp acquired a new stake in NuScale Power in the second quarter valued at $7,600,000. Finally, Rheos Capital Works Inc. bought a new position in NuScale Power during the 1st quarter valued at $1,328,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.