NuScale Power Corporation (NYSE:SMR) Stock Has Consensus Target Price of $12.96 According to Analysts

Shares of NuScale Power Corporation (NYSE:SMR) have been given an average recommendation of “Hold” by the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $12.96.

SMR has been the subject of several recent research reports. Canaccord Genuity Group reduced their price objective on NuScale Power from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Truist Financial began coverage on shares of NuScale Power in a research note on Monday, July 13th. They set a “hold” rating and a $10.00 target price on the stock. Citigroup dropped their target price on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada decreased their price target on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Monday, September 21st.

Key Stories Impacting NuScale Power

Here are the key news stories impacting NuScale Power this week:

• Positive Sentiment: Google’s 20-year nuclear power agreement renewed investor interest in nuclear stocks, highlighting potential long-term demand from data centers and improving the broader outlook for companies such as NuScale. Google’s Power Deal Fuels Fresh Interest in Nuclear Stocks

Insider Activity

In related news, COO Carl M. Fisher sold 18,771 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total transaction of $175,696.56. Following the completion of the sale, the chief operating officer directly owned 114,718 shares in the company, valued at approximately $1,073,760.48. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shinji Fujino sold 20,000 shares of NuScale Power stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total transaction of $177,200.00. Following the transaction, the director directly owned 17,242 shares in the company, valued at $152,764.12. This trade represents a 53.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 88,651 shares of company stock worth $791,270 over the last ninety days. Corporate insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of NuScale Power by 157.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,970 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in NuScale Power in the second quarter valued at about $126,000. WINTON GROUP Ltd purchased a new position in NuScale Power during the second quarter worth about $392,000. Integrated Wealth Concepts LLC increased its position in shares of NuScale Power by 153.6% during the second quarter. Integrated Wealth Concepts LLC now owns 65,623 shares of the company’s stock valued at $658,000 after acquiring an additional 39,751 shares during the last quarter. Finally, RFG Advisory LLC increased its position in shares of NuScale Power by 33.1% during the second quarter. RFG Advisory LLC now owns 60,622 shares of the company’s stock valued at $608,000 after acquiring an additional 15,092 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Price Performance

Shares of NYSE SMR opened at $7.33 on Friday. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -2.51 and a beta of 2.36. NuScale Power has a 12 month low of $7.17 and a 12 month high of $57.42. The firm’s 50 day simple moving average is $9.00 and its 200-day simple moving average is $10.05.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. During the same period last year, the firm posted ($0.11) earnings per share. The company’s revenue was down 99.1% compared to the same quarter last year. Analysts anticipate that NuScale Power will post -0.64 earnings per share for the current fiscal year.

NuScale Power Company Profile

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and process heat. Its primary product is the VOYGR SMR power plant, which is based on the company’s proprietary pressurized light-water reactor design. The plants are intended to be built from factory-produced modules and can be configured for applications including utility-scale power generation, industrial heat, hydrogen production, and water desalination.

NuScale provides reactor technology, engineering and design support, licensing assistance, and services intended to help customers develop and deploy SMR facilities.