NuScale Power Corporation (NYSE:SMR) Stake Boosted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its position in shares of NuScale Power Corporation (NYSE:SMR) by 93.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,666 shares of the company’s stock after buying an additional 14,838 shares during the quarter. Avantax Advisory Services Inc.’s holdings in NuScale Power were worth $434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NuScale Power by 1.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after acquiring an additional 89,949 shares in the last quarter. Samsung C&T Corp acquired a new stake in NuScale Power during the 4th quarter valued at $46,745,000. Geode Capital Management LLC lifted its holdings in shares of NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after purchasing an additional 135,613 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of NuScale Power by 20.3% in the fourth quarter. Northern Trust Corp now owns 801,193 shares of the company’s stock valued at $14,365,000 after purchasing an additional 135,178 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of NuScale Power by 60.2% in the fourth quarter. Two Sigma Investments LP now owns 487,037 shares of the company’s stock worth $8,733,000 after buying an additional 182,928 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SMR has been the subject of several research analyst reports. BNP Paribas Exane started coverage on NuScale Power in a research note on Friday, July 25th. They issued a “neutral” rating and a $41.00 price objective for the company. Citigroup started coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a “neutral” rating and a $46.00 price objective on the stock. UBS Group upped their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. BNP Paribas raised shares of NuScale Power to a “hold” rating in a research note on Friday, July 25th. Finally, CLSA set a $41.00 price target on shares of NuScale Power and gave the company an “outperform” rating in a report on Tuesday, May 27th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and a consensus target price of $33.00.

NuScale Power Trading Up 1.8%

Shares of NuScale Power stock opened at $45.95 on Thursday. The firm has a fifty day simple moving average of $40.43 and a 200-day simple moving average of $26.74. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of -33.54 and a beta of 2.06. NuScale Power Corporation has a 1-year low of $6.88 and a 1-year high of $53.50.

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

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Carl M. Fisher sold 18,206 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the transaction, the chief operating officer owned 90,864 shares of the company’s stock, valued at approximately $4,033,452.96. The trade was a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.27% of the stock is owned by corporate insiders.

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.