US Bancorp DE Makes New Investment in NuScale Power Co. (NYSE:SMR)

US Bancorp DE acquired a new position in NuScale Power Co. (NYSE:SMR) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,100 shares of the company’s stock, valued at approximately $74,000.

A number of other institutional investors have also recently added to or reduced their stakes in SMR. Pekin Hardy Strauss Inc. raised its stake in shares of NuScale Power by 12.5% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 125,325 shares of the company’s stock valued at $1,139,000 after purchasing an additional 13,950 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of NuScale Power by 34.6% in the 1st quarter. Federated Hermes Inc. now owns 8,393 shares of the company’s stock valued at $76,000 after purchasing an additional 2,158 shares in the last quarter. Barclays PLC raised its stake in shares of NuScale Power by 88.4% in the 1st quarter. Barclays PLC now owns 15,920 shares of the company’s stock valued at $145,000 after purchasing an additional 7,468 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NuScale Power by 13,270.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,922,415 shares of the company’s stock valued at $17,475,000 after purchasing an additional 1,908,037 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of NuScale Power in the 1st quarter valued at about $500,000. Institutional investors and hedge funds own 10.67% of the company’s stock.

Insider Buying and Selling

In related news, CFO Chris Colbert sold 29,929 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $7.41, for a total transaction of $221,773.89. Following the sale, the chief financial officer now owns 15,048 shares in the company, valued at $111,505.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NuScale Power news, Director Shinji Fujino sold 5,249 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $5.97, for a total value of $31,336.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Chris Colbert sold 29,929 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $7.41, for a total transaction of $221,773.89. Following the completion of the transaction, the chief financial officer now owns 15,048 shares of the company’s stock, valued at approximately $111,505.68. The disclosure for this sale can be found here. Insiders have sold a total of 95,035 shares of company stock worth $698,148 over the last quarter. 3.06% of the stock is owned by company insiders.

NuScale Power Stock Up 4.9 %

SMR opened at $6.27 on Friday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -9.49 and a beta of 0.81. NuScale Power Co. has a fifty-two week low of $5.74 and a fifty-two week high of $14.70. The company’s 50-day moving average price is $6.98 and its 200 day moving average price is $8.11.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.13) earnings per share for the quarter. The business had revenue of $5.80 million for the quarter. NuScale Power had a negative return on equity of 43.96% and a negative net margin of 654.97%. Research analysts anticipate that NuScale Power Co. will post -0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their target price on shares of NuScale Power from $12.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 17th.

NuScale Power Company Profile

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.