NuScale Power (NYSE:SMR) Now Covered by The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group assumed coverage on shares of NuScale Power (NYSE:SMR) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $24.00 price target on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 2.20% from the company’s current price.

A number of other research analysts have also recently weighed in on SMR. BTIG Research reaffirmed a “buy” rating on shares of NuScale Power in a report on Tuesday, May 13th. UBS Group lowered their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and a consensus target price of $17.83.

NuScale Power Price Performance

NYSE:SMR opened at $24.54 on Tuesday. The firm’s fifty day moving average is $16.80 and its two-hundred day moving average is $20.24. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of -25.83 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. NuScale Power has a one year low of $6.37 and a one year high of $32.30.

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

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the transaction, the chief financial officer now directly owns 29,985 shares in the company, valued at $470,764.50. The trade was a 51.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief technology officer now owns 516,207 shares of the company’s stock, valued at $7,810,211.91. This represents a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,392 shares of company stock worth $3,138,221 over the last ninety days. Corporate insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Large investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NuScale Power by 1,220.7% in the 1st 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 buying an additional 1,705,411 shares during the period. Voleon Capital Management LP acquired a new position in shares of NuScale Power in the 1st quarter worth approximately $741,000. Jones Financial Companies Lllp increased its holdings in NuScale Power by 9.1% in the 1st 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after buying an additional 1,153,158 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in NuScale Power in the 1st quarter valued at about $390,000. Institutional investors and hedge funds 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.