NuScale Power Corporation $SMR Stock Position Lifted by Invesco Ltd.

Invesco Ltd. increased its position in NuScale Power Corporation (NYSE:SMR) by 112.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,916 shares of the company’s stock after buying an additional 39,167 shares during the period. Invesco Ltd.’s holdings in NuScale Power were worth $1,047,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. CoreCap Advisors LLC acquired a new position in NuScale Power during the 4th quarter valued at $33,000. NBC Securities Inc. lifted its position in shares of NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of NuScale Power during the first quarter worth $141,000. Rakuten Securities Inc. boosted its stake in shares of NuScale Power by 36.4% in the 1st quarter. Rakuten Securities Inc. now owns 10,213 shares of the company’s stock valued at $145,000 after purchasing an additional 2,723 shares during the last quarter. Finally, Lauer Wealth LLC acquired a new position in shares of NuScale Power in the 1st quarter valued at $150,000. 78.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SMR. BTIG Research cut shares of NuScale Power from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 25th. Canaccord Genuity Group increased their price objective on shares of NuScale Power from $36.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Bank of America began coverage on shares of NuScale Power in a research note on Thursday, August 21st. They issued a “neutral” rating and a $36.00 target price for the company. Citigroup initiated coverage on NuScale Power in a research note on Monday, June 23rd. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, BNP Paribas raised NuScale Power to a “hold” rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.60.

Insider Activity

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 90,864 shares of the company’s stock, valued at approximately $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the sale, the chief financial officer owned 46,283 shares of the company’s stock, valued at $1,647,211.97. This trade represents a 39.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

NuScale Power Price Performance

Shares of NYSE SMR opened at $37.26 on Wednesday. NuScale Power Corporation has a 1 year low of $6.88 and a 1 year high of $53.50. The firm has a market cap of $10.62 billion, a PE ratio of -31.31 and a beta of 2.03. The company has a 50 day simple moving average of $40.35 and a 200 day simple moving average of $28.32.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share 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 analyst estimates of $10.49 million. As a group, research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

About NuScale Power

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.