B. Riley Boosts NuScale Power (NYSE:SMR) Price Target to $14.00

NuScale Power (NYSE:SMR) had its price objective boosted by B. Riley from $8.00 to $14.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on SMR. UBS Group lifted their target price on NuScale Power from $2.00 to $10.00 and gave the stock a neutral rating in a research report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an underweight rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group increased their price objective on NuScale Power from $4.25 to $8.00 and gave the company a buy rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power presently has an average rating of Hold and an average price target of $8.15.

NuScale Power Stock Down 2.4 %

SMR stock opened at $11.69 on Thursday. The business has a 50 day moving average price of $7.69 and a 200 day moving average price of $5.21. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -13.75 and a beta of 1.17. NuScale Power has a fifty-two week low of $1.81 and a fifty-two week high of $12.40.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The business had revenue of $1.38 million during the quarter, compared to analysts’ expectations of $3.15 million. During the same quarter in the prior year, the business posted ($0.16) EPS. As a group, sell-side analysts anticipate that NuScale Power will post -0.64 EPS for the current year.

Insider Activity

In related news, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the sale, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Robert K. Temple sold 8,873 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $53,592.92. Following the completion of the transaction, the general counsel now directly owns 42,860 shares of the company’s stock, valued at approximately $258,874.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $6.07, for a total value of $144,502.42. Following the completion of the sale, the general counsel now owns 19,054 shares in the company, valued at $115,657.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,131 shares of company stock valued at $339,745. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently made changes to their positions in SMR. Swedbank AB purchased a new stake in shares of NuScale Power during the 1st quarter worth approximately $18,585,000. Virtu Financial LLC acquired a new position in NuScale Power during the first quarter worth $98,000. Price T Rowe Associates Inc. MD boosted its position in NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after purchasing an additional 4,014 shares in the last quarter. Resurgent Financial Advisors LLC grew its holdings in NuScale Power by 100.0% in the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after purchasing an additional 7,400 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in shares of NuScale Power in the first quarter valued at $58,000. 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.