California State Teachers Retirement System Has $1.43 Million Stock Position in NuScale Power Co. (NYSE:SMR)

California State Teachers Retirement System boosted its position in NuScale Power Co. (NYSE:SMR) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,687 shares of the company’s stock after buying an additional 12,070 shares during the quarter. California State Teachers Retirement System’s holdings in NuScale Power were worth $1,429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in NuScale Power during the fourth quarter worth $202,000. KBC Group NV acquired a new stake in NuScale Power in the 4th quarter worth $70,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NuScale Power by 755.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,600 shares of the company’s stock valued at $2,255,000 after buying an additional 102,080 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in shares of NuScale Power in the fourth quarter valued at about $764,000. Finally, Financial Advocates Investment Management acquired a new stake in NuScale Power during the fourth quarter worth about $474,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Stock Up 10.8%

Shares of NYSE:SMR opened at $34.40 on Monday. The company’s fifty day moving average is $20.67 and its 200-day moving average is $20.93. 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 Co. has a 52 week low of $6.88 and a 52 week high of $36.85. The company has a market capitalization of $9.78 billion, a PE ratio of -36.21 and a beta of 2.00.

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

Analysts Set New Price Targets

A number of brokerages have commented on SMR. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. UBS Group lifted their price target on shares of NuScale Power from $17.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the company a “buy” rating in a research note on Thursday, May 29th. BTIG Research reiterated a “buy” rating on shares of NuScale Power in a research report on Tuesday, May 13th. Finally, CLSA set a $41.00 target price on shares of NuScale Power and gave the company an “outperform” rating in a research note on Tuesday, May 27th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Insider Buying and Selling

In other news, CEO John Lawrence Hopkins sold 26,345 shares of NuScale Power stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. This trade represents a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,278 shares of company stock worth $2,286,280 in the last three months. Insiders own 1.27% of the company’s stock.

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.