Guggenheim Initiates Coverage on NuScale Power (NYSE:SMR)
Stock analysts at Guggenheim began coverage on shares of NuScale Power (NYSE:SMR – Get Rating) in a report released on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Guggenheim’s price objective would indicate a potential upside of 28.11% from the company’s previous close.
A number of other equities analysts have also weighed in on SMR. Cowen increased their target price on shares of NuScale Power to $17.00 in a research report on Monday, August 15th. Cowen began coverage on shares of NuScale Power in a research note on Friday, May 13th. They set an “outperform” rating on the stock.
NuScale Power Price Performance
Shares of SMR stock opened at $14.05 on Thursday. The firm has a 50-day moving average price of $12.03. NuScale Power has a one year low of $8.56 and a one year high of $15.85.
Insider Transactions at NuScale Power
In other NuScale Power news, insider Thomas P. Mundy sold 14,370 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $10.68, for a total value of $153,471.60. Following the completion of the transaction, the insider now owns 61,070 shares of the company’s stock, valued at approximately $652,227.60. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in SMR. Goldman Sachs Group Inc. purchased a new stake in shares of NuScale Power during the 2nd quarter worth approximately $590,000. Advisory Research Inc. bought a new stake in NuScale Power during the second quarter valued at about $1,417,000. Clear Sky Advisers LLC bought a new stake in NuScale Power during the second quarter valued at about $859,000. State Street Corp bought a new stake in NuScale Power during the second quarter valued at about $1,538,000. Finally, Macquarie Group Ltd. bought a new stake in NuScale Power during the second quarter valued at about $10,090,000. 69.38% of the stock is currently owned by institutional investors.
NuScale Power Company Profile
NuScale Power Corporation develops and sells 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, a water reactor that can generate 77 megawatts of electricity (MWe); The VOYGR-12 power plant that can generate 924 MWe; and four-module VOYGR-4 and six-module VOYGR-6 plants, as well as other configurations based on customer needs.
Receive News & Ratings for NuScale Power Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NuScale Power and related companies with MarketBeat.com’s FREE daily email newsletter.