NuScale Power (NYSE:SMR) Coverage Initiated at Craig Hallum

Equities research analysts at Craig Hallum began coverage on shares of NuScale Power (NYSE:SMR) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $16.00 price target on the stock. Craig Hallum’s target price suggests a potential upside of 27.39% from the stock’s current price.

SMR has been the subject of a number of other reports. CLSA assumed coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. B. Riley boosted their target price on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.68.

NuScale Power Stock Performance

NYSE:SMR opened at $12.56 on Thursday. 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 company has a market cap of $3.13 billion, a price-to-earnings ratio of -14.78 and a beta of 1.22. NuScale Power has a 1 year low of $1.81 and a 1 year high of $16.91. The stock’s 50 day simple moving average is $9.32 and its two-hundred day simple moving average is $8.41.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. During the same period in the previous year, the business earned ($0.13) earnings per share. As a group, equities analysts anticipate that NuScale Power will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’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 in the company, valued at $460,294.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’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 transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at $460,294.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the sale, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at $266,539.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,171 shares of company stock worth $3,285,970. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. International Assets Investment Management LLC purchased a new position in shares of NuScale Power in the second quarter worth $64,000. TFC Financial Management Inc. purchased a new stake in NuScale Power during the 2nd quarter valued at about $75,000. Fortitude Family Office LLC acquired a new position in shares of NuScale Power in the second quarter valued at about $98,000. Quest Partners LLC purchased a new position in shares of NuScale Power in the second quarter worth about $115,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in shares of NuScale Power during the first quarter worth about $53,000. 15.28% of the stock is currently owned by hedge funds and other 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.