Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in NuScale Power Corporation (NYSE:SMR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in NuScale Power Corporation (NYSE:SMR) by 56.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,433 shares of the company’s stock after purchasing an additional 7,361 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NuScale Power were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of SMR. Samsung C&T Corp purchased a new position in shares of NuScale Power in the 4th quarter worth about $46,745,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of NuScale Power in the 1st quarter worth $14,271,000. Alyeska Investment Group L.P. bought a new stake in shares of NuScale Power in the 4th quarter worth $7,628,000. TB Alternative Assets Ltd. bought a new stake in shares of NuScale Power in the 1st quarter worth $5,938,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of NuScale Power in the 4th quarter worth $4,273,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SMR shares. Citigroup started coverage on NuScale Power in a report on Monday, June 23rd. They issued a “neutral” rating and a $46.00 target price for the company. BNP Paribas Exane started coverage on NuScale Power in a report on Friday, July 25th. They issued a “neutral” rating and a $41.00 target price for the company. BTIG Research lowered NuScale Power from a “buy” rating to a “neutral” rating in a report on Wednesday, June 25th. Northland Securities started coverage on NuScale Power in a report on Monday, July 7th. They issued a “market perform” rating and a $35.00 target price for the company. Finally, UBS Group lifted their price objective on NuScale Power from $17.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.00.

NuScale Power Price Performance

Shares of SMR opened at $39.49 on Friday. The firm has a market capitalization of $11.23 billion, a P/E ratio of -33.18 and a beta of 2.06. The business has a fifty day moving average of $40.81 and a 200 day moving average of $26.99. NuScale Power Corporation has a one year low of $6.88 and a one year high of $53.50.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). NuScale Power had a positive return on equity of 2.86% and a negative net margin of 221.07%. The firm had revenue of $8.05 million during the quarter, compared to analysts’ expectations of $10.49 million. Analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 26,345 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $44.39, for a total value of $808,164.34. Following the sale, the chief operating officer owned 90,864 shares of the company’s stock, valued at approximately $4,033,452.96. This represents a 16.69% decrease in their position. The disclosure for this sale can be found here. 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.