Farther Finance Advisors LLC Grows Stock Holdings in NuScale Power Corporation (NYSE:SMR)

Farther Finance Advisors LLC grew its stake in shares of NuScale Power Corporation (NYSE:SMR) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,902 shares of the company’s stock after acquiring an additional 833 shares during the period. Farther Finance Advisors LLC’s holdings in NuScale Power were worth $189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC purchased a new position in NuScale Power during the 4th quarter valued at about $33,000. Venturi Wealth Management LLC boosted its position in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the period. Twin Tree Management LP purchased a new position in NuScale Power during the fourth quarter valued at approximately $42,000. NBC Securities Inc. grew its stake in NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock valued at $46,000 after acquiring an additional 3,309 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after acquiring an additional 986 shares during the period. 78.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

NuScale Power Stock Performance

NuScale Power stock opened at $39.15 on Friday. NuScale Power Corporation has a fifty-two week low of $6.88 and a fifty-two week high of $45.31. The stock has a market cap of $11.13 billion, a P/E ratio of -28.58 and a beta of 2.00. The firm’s fifty day moving average price is $25.08 and its 200-day moving average price is $21.69.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The business had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. On average, analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, CEO John Lawrence Hopkins sold 34,675 shares of NuScale Power stock in a transaction on Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the transaction, the chief executive officer now owns 49,019 shares in the company, valued at $833,323. This trade represents a 41.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,278 shares of company stock valued at $2,286,280. Corporate 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.