NuScale Power (NYSE:SMR) Given New $14.00 Price Target at B. Riley

NuScale Power (NYSE:SMR - Free Report) had its price target boosted by B. Riley from $8.00 to $14.00 in a report released on Thursday, Benzinga reports. B. Riley currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. 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 report on Tuesday, March 19th. Canaccord Genuity Group upped their price objective on NuScale Power from $4.25 to $8.00 and gave the company a buy rating in a research report on Monday, March 18th. Finally, UBS Group lifted their target price on NuScale Power from $2.00 to $10.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, NuScale Power has a consensus rating of Hold and a consensus target price of $8.15.

NuScale Power Stock Performance

Shares of SMR stock traded up $0.46 during trading hours on Thursday, reaching $11.99. The company had a trading volume of 7,416,196 shares, compared to its average volume of 4,620,833. The business has a fifty day moving average price of $7.41 and a 200-day moving average price of $5.07. NuScale Power has a one year low of $1.81 and a one year high of $12.20. The firm has a market cap of $2.91 billion, a PE ratio of -12.84 and a beta of 1.17.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, hitting analysts' consensus estimates of ($0.21). The business had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same quarter in the previous year, the firm posted ($0.16) EPS. Equities research analysts forecast that NuScale Power will post -0.64 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $43,433.64. Following the transaction, the insider now owns 43,549 shares of the company's stock, valued at approximately $263,035.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $95,287.04. Following the completion of the sale, the chief technology officer now owns 478,306 shares in the company, valued at $2,888,968.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the firm's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $43,433.64. Following the transaction, the insider now owns 43,549 shares in the company, valued at $263,035.96. The disclosure for this sale can be found here. Insiders sold 56,131 shares of company stock worth $339,745 over the last 90 days. Company insiders own 1.96% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Swedbank AB acquired a new position in shares of NuScale Power in the 1st quarter valued at about $18,585,000. FMR LLC grew its position in NuScale Power by 11.2% during the third quarter. FMR LLC now owns 2,983,460 shares of the company's stock valued at $14,619,000 after buying an additional 301,548 shares during the period. Rheos Capital Works Inc. purchased a new position in NuScale Power in the first quarter valued at $1,328,000. Vanguard Group Inc. boosted its stake in shares of NuScale Power by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company's stock worth $27,128,000 after acquiring an additional 204,505 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of NuScale Power by 5.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company's stock valued at $11,159,000 after acquiring an additional 172,408 shares during the period. Institutional investors own 15.28% of the company's stock.

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.