NuScale Power Co. (NYSE:SMR) Receives $10.39 Consensus Target Price from Brokerages

NuScale Power Co. (NYSE:SMR) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.39.

SMR has been the subject of a number of recent research reports. Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company.

Insider Transactions at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,610 shares of company stock worth $3,528,780 in the last ninety days. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Canal Insurance CO increased its holdings in NuScale Power by 35.0% in the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after purchasing an additional 56,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC lifted its position in NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after acquiring an additional 86,454 shares in the last quarter. Stifel Financial Corp grew its position in NuScale Power by 581.8% in the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after acquiring an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in shares of NuScale Power during the third quarter valued at approximately $277,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Stock Down 10.6 %

SMR opened at $19.51 on Friday. The firm has a market cap of $4.98 billion, a P/E ratio of -20.54 and a beta of 1.33. The business’s fifty day simple moving average is $22.77 and its 200 day simple moving average is $14.93. NuScale Power has a 52 week low of $1.88 and a 52 week high of $32.30. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

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.