NuScale Power (NYSE:SMR) Now Covered by Analysts at CLSA

CLSA assumed coverage on shares of NuScale Power (NYSE:SMR) in a research report sent to investors on Friday morning, Marketbeat reports. The firm issued an outperform rating and a $11.00 target price on the stock.

Separately, B. Riley lifted their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a buy rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $8.63.

NuScale Power Price Performance

SMR stock opened at $9.68 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market capitalization of $2.35 billion, a P/E ratio of -11.39 and a beta of 1.22. NuScale Power has a fifty-two week low of $1.81 and a fifty-two week high of $16.91. The business has a 50-day moving average of $9.85 and a 200-day moving average of $8.06.

NuScale Power (NYSE:SMR) last released its 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 during 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 firm posted ($0.13) EPS. On average, sell-side analysts anticipate that NuScale Power will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now owns 19,054 shares in the company, valued at $190,540. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,544 shares of company stock worth $809,536. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SMR. Swedbank AB acquired a new position in shares of NuScale Power in the first quarter valued at about $18,585,000. Van ECK Associates Corp bought a new position in shares of NuScale Power during the second quarter worth approximately $7,600,000. Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power in the first quarter valued at approximately $1,328,000. Bank of New York Mellon Corp increased its stake in NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after acquiring an additional 137,382 shares during the period. Finally, SG Americas Securities LLC raised its holdings in NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after acquiring an additional 131,570 shares in the last quarter. Institutional investors own 15.28% 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.