NuScale Power (NYSE:SMR) Given New $24.00 Price Target at B. Riley

NuScale Power (NYSE:SMR) had its price objective decreased by B. Riley from $38.00 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 46.03% from the company’s previous close.

A number of other research firms also recently commented on SMR. UBS Group set a $20.00 price objective on shares of NuScale Power in a report on Tuesday, November 25th. Wall Street Zen cut shares of NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. The Goldman Sachs Group dropped their price objective on NuScale Power from $27.00 to $23.00 and set a “neutral” rating on the stock in a research note on Friday, December 12th. Barclays began coverage on shares of NuScale Power in a research report on Monday, September 29th. They set an “equal weight” rating and a $45.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Reduce” and an average price target of $35.18.

NuScale Power Trading Up 2.3%

Shares of SMR traded up $0.37 during midday trading on Monday, hitting $16.44. The stock had a trading volume of 15,772,019 shares, compared to its average volume of 15,243,940. The firm has a market cap of $4.91 billion, a P/E ratio of -5.73 and a beta of 2.09. NuScale Power has a fifty-two week low of $11.08 and a fifty-two week high of $57.42. The business has a 50-day simple moving average of $28.52 and a two-hundred day simple moving average of $35.57.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The company had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm’s quarterly revenue was up 1635.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.18) EPS. On average, analysts expect that NuScale Power will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 87,900 shares of the business’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $22.17, for a total transaction of $886,800.00. Following the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,026,094.11. This represents a 46.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,912,275 shares of company stock valued at $350,978,312. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NuScale Power by 22.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the last quarter. Van ECK Associates Corp raised its position in NuScale Power by 67.2% during the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock worth $190,362,000 after acquiring an additional 2,125,250 shares during the period. Samsung C&T Corp lifted its stake in NuScale Power by 98.9% in the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after buying an additional 2,578,702 shares in the last quarter. Clear Street Group Inc. acquired a new stake in shares of NuScale Power in the third quarter worth approximately $155,616,000. Finally, Geode Capital Management LLC grew its stake in NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after acquiring an additional 574,295 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.