NuScale Power (NYSE:SMR) Stock Price Target Lowered at B. Riley Financial

NuScale Power (NYSE:SMR) had its price objective decreased by B. Riley Financial from $15.00 to $10.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial‘s target price would indicate a potential upside of 74.98% from the stock’s current price.

SMR has been the subject of several other reports. Citigroup dropped their price objective on NuScale Power from $6.50 to $4.00 and set a “sell” rating for the company in a research note on Wednesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research report on Monday, September 21st. UBS Group downgraded NuScale Power from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $10.00 to $6.00 in a research report on Friday, September 11th. Northland Securities set a $16.00 target price on NuScale Power in a report on Thursday, August 6th. Finally, Canaccord Genuity Group dropped their price target on NuScale Power from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.67.

NuScale Power Trading Up 8.4%

SMR stock opened at $5.71 on Wednesday. The firm has a 50 day moving average of $8.08 and a 200-day moving average of $11.14. NuScale Power has a 12-month low of $5.20 and a 12-month high of $45.54. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -1.96 and a beta of 2.36.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $8.80 million. NuScale Power’s revenue was down 99.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. Sell-side analysts forecast that NuScale Power will post -0.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shinji Fujino sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total value of $177,200.00. Following the sale, the director owned 17,242 shares of the company’s stock, valued at approximately $152,764.12. This represents a 53.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Hamady sold 29,880 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $9.39, for a total value of $280,573.20. Following the sale, the chief financial officer owned 124,235 shares in the company, valued at approximately $1,166,566.65. This trade represents a 19.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 88,651 shares of company stock worth $791,270 in the last ninety days. Insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. Parallel Advisors LLC lifted its position in shares of NuScale Power by 1.8% in the first quarter. Parallel Advisors LLC now owns 59,898 shares of the company’s stock valued at $649,000 after acquiring an additional 1,053 shares in the last quarter. Concorde Asset Management LLC boosted its stake in shares of NuScale Power by 9.8% during the first quarter. Concorde Asset Management LLC now owns 12,390 shares of the company’s stock valued at $134,000 after acquiring an additional 1,110 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of NuScale Power by 14.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,985 shares of the company’s stock valued at $123,000 after acquiring an additional 1,468 shares during the last quarter. D.A. Davidson & CO. increased its position in NuScale Power by 4.5% during the 1st quarter. D.A. Davidson & CO. now owns 36,227 shares of the company’s stock worth $393,000 after purchasing an additional 1,568 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in NuScale Power by 9.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 21,448 shares of the company’s stock worth $232,000 after purchasing an additional 1,846 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Company Profile

NuScale Power Corporation develops small modular reactor (SMR) technology for producing electricity and other forms of low-carbon energy. The company’s core product is the NuScale Power Module, a compact pressurized-water reactor designed to be manufactured in a factory, transported to a site and deployed in scalable configurations.

NuScale markets its technology through the VOYGR power plant platform, which can combine multiple reactor modules to meet the needs of utilities, industrial users and other customers.