NuScale Power Co. (NYSE:SMR) Given Average Rating of “Moderate Buy” by Analysts

Shares of NuScale Power Co. (NYSE:SMR) have received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $10.39.

SMR has been the subject of several analyst reports. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. Craig Hallum boosted their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 277,610 shares of company stock worth $4,428,780. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after acquiring an additional 137,382 shares during the period. Principal Financial Group Inc. purchased a new position in NuScale Power during the second quarter worth about $123,000. International Assets Investment Management LLC acquired a new position in NuScale Power in the 2nd quarter valued at about $64,000. Commonwealth Equity Services LLC increased its holdings in shares of NuScale Power by 85.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock worth $917,000 after buying an additional 36,236 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of NuScale Power during the 2nd quarter valued at approximately $7,600,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Trading Up 4.0 %

Shares of NYSE:SMR opened at $19.77 on Friday. The business has a 50-day moving average price of $22.36 and a 200-day moving average price of $14.44. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of -20.81 and a beta of 1.33. NuScale Power has a 52-week low of $1.88 and a 52-week high of $32.30. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

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.