Vanguard Group Inc. Raises Stock Holdings in NuScale Power Corporation $SMR

Vanguard Group Inc. grew its stake in NuScale Power Corporation (NYSE:SMR) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,940,535 shares of the company’s stock after buying an additional 512,618 shares during the quarter. Vanguard Group Inc. owned approximately 3.17% of NuScale Power worth $126,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SMR. CoreCap Advisors LLC purchased a new stake in NuScale Power in the fourth quarter worth about $33,000. NBC Securities Inc. increased its position in NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock worth $46,000 after buying an additional 3,309 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in NuScale Power in the first quarter worth about $141,000. Rakuten Securities Inc. increased its position in NuScale Power by 36.4% in the first quarter. Rakuten Securities Inc. now owns 10,213 shares of the company’s stock worth $145,000 after buying an additional 2,723 shares in the last quarter. Finally, Lauer Wealth LLC purchased a new stake in NuScale Power in the first quarter worth about $150,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Insider Buying and Selling

In related news, COO Carl M. Fisher sold 18,206 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the transaction, the chief operating officer directly owned 90,864 shares of the company’s stock, valued at approximately $4,033,452.96. This represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Northland Securities assumed coverage on NuScale Power in a research report on Monday, July 7th. They issued a “market perform” rating and a $35.00 price target for the company. Citigroup began coverage on NuScale Power in a research report on Monday, June 23rd. They set a “neutral” rating and a $46.00 target price for the company. Canaccord Genuity Group increased their target price on NuScale Power from $36.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. CLSA set a $41.00 target price on NuScale Power and gave the stock an “outperform” rating in a research report on Tuesday, May 27th. Finally, The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Hold” and an average price target of $34.60.

NuScale Power Trading Down 1.1%

Shares of NuScale Power stock opened at $33.4320 on Friday. The stock has a 50 day moving average of $40.96 and a 200 day moving average of $27.70. NuScale Power Corporation has a 12 month low of $6.88 and a 12 month high of $53.50. The firm has a market cap of $9.52 billion, a PE ratio of -28.09 and a beta of 2.06.

NuScale Power (NYSE:SMR) last announced its quarterly 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 negative net margin of 221.07% and a positive return on equity of 2.61%. The firm had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. As a group, equities research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

NuScale Power Company 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.