Brokerages Set NuScale Power Corporation (NYSE:SMR) PT at $36.09

Shares of NuScale Power Corporation (NYSE:SMR) have received a consensus rating of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $36.0909.

SMR has been the subject of several analyst reports. UBS Group boosted their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Citigroup initiated coverage on shares of NuScale Power in a research note on Monday, June 23rd. They issued a “neutral” rating and a $46.00 target price for the company. BTIG Research downgraded shares of NuScale Power from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 25th. Northland Securities initiated coverage on shares of NuScale Power in a research note on Monday, July 7th. They issued a “market perform” rating and a $35.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on shares of NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd.

NuScale Power Stock Down 4.8%

NuScale Power stock opened at $39.65 on Monday. NuScale Power has a 52 week low of $10.71 and a 52 week high of $53.50. The firm’s 50-day simple moving average is $40.32 and its 200 day simple moving average is $30.42. The firm has a market capitalization of $11.30 billion, a PE ratio of -33.32 and a beta of 2.03.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The business had revenue of $8.05 million during the quarter, compared to analysts’ expectations of $10.49 million. On average, research analysts expect that NuScale Power will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, COO Carl M. Fisher sold 18,206 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the completion of the transaction, the chief operating officer owned 90,864 shares of the company’s stock, valued at approximately $4,033,452.96. The trade was a 16.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares of the company’s stock, valued at approximately $443,654,282.56. This represents a 19.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,158,260 shares of company stock valued at $298,578,328. 1.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after acquiring an additional 1,705,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NuScale Power by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. Bank of America Corp DE increased its position in NuScale Power by 80.9% during the 2nd quarter. Bank of America Corp DE now owns 2,333,248 shares of the company’s stock worth $92,303,000 after purchasing an additional 1,043,676 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in NuScale Power during the 1st quarter worth approximately $14,271,000. Finally, Man Group plc acquired a new stake in NuScale Power during the 2nd quarter worth approximately $33,877,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.