NuScale Power Co. (NYSE:SMR) Receives $10.39 Average Price Target from Analysts

Shares of NuScale Power Co. (NYSE:SMR) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.39.

A number of brokerages have recently weighed in on SMR. CLSA initiated coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. Craig Hallum upped their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th.

Insider Activity

In other news, insider Robert K. Temple sold 5,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $134,496.78. This trade represents a 26.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 409,051 shares of company stock valued at $5,525,671. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in NuScale Power in the third quarter valued at approximately $44,000. US Bancorp DE acquired a new position in shares of NuScale Power in the 3rd quarter valued at $54,000. CWM LLC increased its position in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power in the second quarter valued at about $64,000. Finally, TFC Financial Management Inc. bought a new stake in shares of NuScale Power in the second quarter worth about $75,000. Institutional investors own 15.28% of the company’s stock.

NuScale Power Stock Up 5.8 %

NYSE SMR opened at $29.70 on Wednesday. The stock’s 50 day simple moving average is $18.85 and its 200 day simple moving average is $12.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. NuScale Power has a one year low of $1.88 and a one year high of $32.30. The firm has a market cap of $7.58 billion, a PE ratio of -31.21 and a beta of 1.12.

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.