NuScale Power (NYSE:SMR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

NuScale Power (NYSE:SMR) had its target price lifted by research analysts at Canaccord Genuity Group from $44.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 65.86% from the stock’s previous close.

Other equities analysts have also issued reports about the company. BNP Paribas Exane assumed coverage on NuScale Power in a research report on Friday, July 25th. They set a “neutral” rating and a $41.00 price target on the stock. Citigroup assumed coverage on NuScale Power in a research report on Monday, June 23rd. They set a “neutral” rating and a $46.00 price target on the stock. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. UBS Group raised their price target on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Finally, CLSA set a $41.00 price target on NuScale Power and gave the stock an “outperform” rating in a research report on Tuesday, May 27th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, NuScale Power presently has an average rating of “Hold” and an average price target of $36.20.

NuScale Power Trading Down 10.5%

Shares of NuScale Power stock opened at $36.18 on Wednesday. The firm has a market capitalization of $10.31 billion, a PE ratio of -30.40 and a beta of 2.03. The business’s 50-day moving average price is $40.34 and its 200-day moving average price is $28.49. NuScale Power has a 12 month low of $6.88 and a 12 month high of $53.50.

NuScale Power (NYSE:SMR) last announced 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). The firm had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. As a group, analysts predict that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, COO Carl M. Fisher sold 18,206 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 in the company, valued at $4,033,452.96. This trade represents a 16.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the transaction, the chief financial officer owned 46,283 shares of the company’s stock, valued at approximately $1,647,211.97. The trade was a 39.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kaizen Financial Strategies purchased a new position in shares of NuScale Power in the 1st quarter valued at approximately $204,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of NuScale Power by 31.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company’s stock valued at $2,734,000 after purchasing an additional 46,744 shares during the period. California State Teachers Retirement System lifted its stake in shares of NuScale Power by 17.9% in the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company’s stock valued at $1,429,000 after purchasing an additional 12,070 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of NuScale Power by 34.1% in the 4th quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company’s stock valued at $943,000 after purchasing an additional 13,373 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of NuScale Power by 6.9% in the 1st quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company’s stock valued at $189,000 after purchasing an additional 833 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.