NuScale Power (NYSE:SMR) Earns Buy Rating from Analysts at Craig Hallum

Craig Hallum initiated coverage on shares of NuScale Power (NYSE:SMR) in a report released on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $16.00 price objective on the stock.

Several other equities analysts also recently commented on SMR. B. Riley upped their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a buy rating in a report on Thursday, June 27th. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They set an outperform rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $9.68.

NuScale Power Stock Performance

Shares of NYSE:SMR opened at $12.55 on Thursday. NuScale Power has a 52 week low of $1.81 and a 52 week high of $16.91. The stock has a market capitalization of $3.05 billion, a P/E ratio of -14.76 and a beta of 1.22. The firm has a fifty day simple moving average of $9.32 and a two-hundred day simple moving average of $8.43. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same quarter in the previous year, the company posted ($0.13) earnings per share. On average, analysts expect that NuScale Power will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert K. Temple sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $12.00, for a total transaction of $900,000.00. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $168,648. The disclosure for this sale can be found here. Insiders have sold 306,171 shares of company stock worth $3,285,970 in the last three months. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of the business. Truist Financial Corp purchased a new stake in shares of NuScale Power in the 2nd quarter worth approximately $177,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of NuScale Power in the 2nd quarter worth approximately $419,000. The Manufacturers Life Insurance Company lifted its position in shares of NuScale Power by 37.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock worth $345,000 after purchasing an additional 8,096 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of NuScale Power in the 2nd quarter worth approximately $783,000. Finally, Sei Investments Co. purchased a new stake in NuScale Power during the second quarter valued at approximately $520,000. Hedge funds and other institutional investors own 15.28% 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.