NuScale Power Corporation (NYSE:SMR) Receives $36.12 Average Target Price from Analysts

Shares of NuScale Power Corporation (NYSE:SMR) have received a consensus rating of “Reduce” from the sixteen analysts that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $36.1154.

A number of analysts recently issued reports on SMR shares. Wall Street Zen downgraded NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Royal Bank Of Canada dropped their price target on shares of NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. BNP Paribas lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Bank of America reaffirmed an “underperform” rating and set a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Finally, Canaccord Genuity Group boosted their target price on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd.

NuScale Power Price Performance

NuScale Power stock opened at $21.55 on Friday. The firm has a 50 day simple moving average of $32.28 and a 200-day simple moving average of $36.47. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of -7.54 and a beta of 2.09. NuScale Power has a 1-year low of $11.08 and a 1-year high of $57.42.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The business had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The company’s revenue was up 1635.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) earnings per share. Equities analysts expect that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the transaction, the director directly owned 10,085,344 shares in the company, valued at $443,654,282.56. This trade represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 15,000,000 shares of company stock worth $604,862,902. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the business. CX Institutional purchased a new position in shares of NuScale Power in the third quarter valued at approximately $25,000. Nemes Rush Group LLC purchased a new position in NuScale Power in the 3rd quarter valued at approximately $25,000. Strategic Advocates LLC acquired a new position in shares of NuScale Power in the third quarter worth $25,000. Quantbot Technologies LP acquired a new position in shares of NuScale Power in the first quarter worth $27,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after acquiring an additional 359 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.