Alliancebernstein L.P. Reduces Stock Position in NuScale Power Co. (NYSE:SMR)

Alliancebernstein L.P. cut its stake in NuScale Power Co. (NYSE:SMR) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,510 shares of the company’s stock after selling 10,530 shares during the period. Alliancebernstein L.P.’s holdings in NuScale Power were worth $1,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC lifted its stake in NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after buying an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp grew its position in NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after buying an additional 1,800 shares in the last quarter. Twin Tree Management LP bought a new position in shares of NuScale Power during the 4th quarter worth about $42,000. Amalgamated Bank grew its holdings in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after purchasing an additional 986 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in NuScale Power by 2,980.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company’s stock worth $66,000 after purchasing an additional 3,576 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now owns 1,149 shares in the company, valued at $16,683.48. This trade represents a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the 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 completion of the sale, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,114 shares of company stock worth $1,351,231. 1.96% of the stock is currently owned by insiders.

NuScale Power Trading Up 0.8 %

NYSE SMR opened at $14.61 on Friday. The business’s fifty day moving average is $17.28 and its 200 day moving average is $19.89. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -15.38 and a beta of 1.64. NuScale Power Co. has a twelve month low of $4.61 and a twelve month high of $32.30.

Wall Street Analyst Weigh In

Several analysts have weighed in on SMR shares. UBS Group dropped their price objective on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th. BTIG Research started coverage on NuScale Power in a report on Friday, April 11th. They set a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.60.

NuScale Power 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.