NuScale Power (NYSE:SMR) Given New $21.00 Price Target at Craig Hallum

NuScale Power (NYSE:SMR) had its price objective boosted by investment analysts at Craig Hallum from $16.00 to $21.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 16.09% from the stock’s previous close.

Several other research firms also recently commented on SMR. CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. B. Riley increased their target price 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

NYSE SMR opened at $18.09 on Thursday. The company has a fifty day moving average of $10.19 and a two-hundred day moving average of $9.07. 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 1 year low of $1.81 and a 1 year high of $19.41. The company has a market capitalization of $4.51 billion, a PE ratio of -18.50 and a beta of 1.25.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $1.43 million. During the same quarter in the prior year, the business earned ($0.13) EPS.

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 68,558 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $13.02, for a total transaction of $892,625.16. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $182,983.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other NuScale Power news, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the sale, the insider now owns 14,054 shares of the company’s stock, valued at approximately $182,983.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the transaction, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,729 shares of company stock worth $4,178,595. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new stake in shares of NuScale Power in the fourth quarter valued at about $417,000. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power during the 1st quarter worth approximately $1,328,000. Evanson Asset Management LLC grew its holdings in shares of NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after acquiring an additional 7,986 shares during the period. SG Americas Securities LLC increased its stake in NuScale Power by 268.3% in the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock valued at $286,000 after purchasing an additional 39,171 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new position in NuScale Power during the first quarter worth $58,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.