NuScale Power (NYSE:SMR) Given a $24.00 Price Target at The Goldman Sachs Group

NuScale Power (NYSE:SMR) has been assigned a $24.00 target price by equities researchers at The Goldman Sachs Group in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 5.62% from the company’s current price.

Several other analysts have also recently commented on SMR. BTIG Research reiterated a “buy” rating on shares of NuScale Power in a research note on Tuesday, May 13th. UBS Group decreased their price target on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.83.

NuScale Power Price Performance

Shares of SMR opened at $25.43 on Tuesday. The company has a market capitalization of $7.23 billion, a P/E ratio of -26.77 and a beta of 1.62. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $17.24 and a 200 day moving average of $20.34. NuScale Power has a twelve month low of $6.61 and a twelve month high of $32.30.

NuScale Power (NYSE:SMR) last posted its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. As a group, equities research analysts anticipate that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares of the company’s stock, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now directly owns 1,149 shares of the company’s stock, valued at approximately $16,683.48. This represents a 95.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,392 shares of company stock worth $3,138,221. Insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. purchased a new position in shares of NuScale Power during the first quarter worth $60,000. Integrity Alliance LLC. grew its position in NuScale Power by 56.3% during the first quarter. Integrity Alliance LLC. now owns 17,219 shares of the company’s stock valued at $244,000 after buying an additional 6,200 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after purchasing an additional 1,705,411 shares during the period. Voleon Capital Management LP acquired a new stake in shares of NuScale Power in the first quarter valued at about $741,000. Finally, Jones Financial Companies Lllp grew its position in shares of NuScale Power by 9.1% in the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after purchasing an additional 1,394 shares during the period. Hedge funds and other institutional investors own 78.37% 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.