Analysts Set NuScale Power Corporation (NYSE:SMR) PT at $27.00

Shares of NuScale Power Corporation (NYSE:SMR) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $27.00.

SMR has been the topic of several research analyst reports. CLSA set a $41.00 price objective on NuScale Power and gave the company an “outperform” rating in a research report on Tuesday, May 27th. BTIG Research restated a “buy” rating on shares of NuScale Power in a research report on Tuesday, May 13th. UBS Group boosted their price objective on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a “neutral” rating in a research report on Tuesday, May 20th.

NuScale Power Stock Performance

NYSE SMR opened at $39.15 on Friday. The company has a market capitalization of $11.13 billion, a PE ratio of -28.58 and a beta of 2.00. The business’s fifty day moving average is $24.59 and its 200 day moving average is $21.61. NuScale Power has a fifty-two week low of $6.88 and a fifty-two week high of $45.31.

NuScale Power (NYSE:SMR) last released its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.06. The company had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. On average, sell-side analysts forecast that NuScale Power will post -0.73 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, VP Jacqueline F. Engel sold 1,565 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.94, for a total transaction of $26,511.10. Following the sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at $20,632.92. The trade was a 56.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,278 shares of company stock worth $2,286,280. Corporate insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in NuScale Power by 6.1% during the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock worth $126,598,000 after acquiring an additional 512,618 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after acquiring an additional 1,153,158 shares during the last quarter. Samsung C&T Corp bought a new stake in NuScale Power during the fourth quarter worth approximately $46,745,000. Geode Capital Management LLC increased its stake in NuScale Power by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock worth $35,249,000 after acquiring an additional 135,613 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NuScale Power by 1,220.7% during the first 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 buying an additional 1,705,411 shares during the last quarter. 78.37% of the stock is owned by institutional investors.

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.