NuScale Power (NYSE:SMR) Research Coverage Started at Barclays

Barclays assumed coverage on shares of NuScale Power (NYSE:SMR) in a research report report published on Monday morning, Marketbeat reports. The brokerage issued an equal weight rating and a $45.00 price objective on the stock.

A number of other research analysts have also issued reports on the company. Bank of America reissued an “underperform” rating and issued a $34.00 target price (down previously from $38.00) on shares of NuScale Power in a report on Tuesday. BNP Paribas Exane assumed coverage on NuScale Power in a research note on Friday, July 25th. They issued a “neutral” rating and a $41.00 price target on the stock. Canaccord Genuity Group lifted their price target on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Citigroup assumed coverage on NuScale Power in a research note on Monday, June 23rd. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, Northland Capmk upgraded NuScale Power to a “hold” rating in a research note on Monday, July 7th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Hold” and an average price target of $36.67.

NuScale Power Trading Up 1.8%

NYSE:SMR opened at $36.66 on Monday. The firm has a market cap of $10.44 billion, a P/E ratio of -30.81 and a beta of 2.02. The stock’s 50 day simple moving average is $39.34 and its 200-day simple moving average is $31.16. NuScale Power has a 12-month low of $11.08 and a 12-month high of $53.50.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Research analysts forecast that NuScale Power will post -0.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Corp Fluor sold 532,354 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $36.52, for a total value of $19,441,568.08. Following the sale, the director directly owned 3,424,278 shares in the company, valued at $125,054,632.56. This represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 11,624,569 shares of company stock valued at $468,599,880 in the last quarter. 1.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Quantbot Technologies LP acquired a new position in NuScale Power in the first quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in 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 purchasing an additional 359 shares during the last quarter. Rothschild Investment LLC increased its stake in NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company’s stock valued at $45,000 after purchasing an additional 350 shares during the last quarter. NBC Securities Inc. increased its stake in NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock valued at $46,000 after purchasing an additional 3,309 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock valued at $46,000 after purchasing an additional 203 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.