Rhumbline Advisers Acquires 14,304 Shares of NuScale Power Corporation $SMR

Rhumbline Advisers lifted its holdings in shares of NuScale Power Corporation (NYSE:SMR) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,708 shares of the company’s stock after acquiring an additional 14,304 shares during the quarter. Rhumbline Advisers’ holdings in NuScale Power were worth $1,780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after acquiring an additional 1,705,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NuScale Power by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in NuScale Power in the first quarter worth $14,271,000. Vanguard Group Inc. raised its holdings in NuScale Power by 6.1% in the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock worth $126,598,000 after purchasing an additional 512,618 shares in the last quarter. Finally, TB Alternative Assets Ltd. bought a new position in NuScale Power in the first quarter worth $5,938,000. Institutional investors own 78.37% of the company’s stock.

Insider Activity

In other news, Director Corp Fluor sold 1,193,504 shares of NuScale Power stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $38.95, for a total transaction of $46,486,980.80. Following the transaction, the director directly owned 12,457,907 shares of the company’s stock, valued at $485,235,477.65. The trade was a 8.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Ramsey Hamady sold 30,641 shares of NuScale Power stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total value of $1,090,513.19. Following the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,647,211.97. The trade was a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,590,940 shares of company stock valued at $97,907,007 in the last ninety days. Corporate insiders own 1.27% of the company’s stock.

NuScale Power Stock Performance

Shares of NYSE:SMR opened at $38.06 on Friday. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of -31.98 and a beta of 2.03. The stock’s 50-day simple moving average is $40.24 and its two-hundred day simple moving average is $29.69. NuScale Power Corporation has a 52-week low of $9.20 and a 52-week high of $53.50.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to analysts’ expectations of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. As a group, equities analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SMR. Northland Securities began coverage on NuScale Power in a report on Monday, July 7th. They issued a “market perform” rating and a $35.00 price objective for the company. Royal Bank Of Canada initiated coverage on NuScale Power in a report on Monday. They set a “sector perform” rating and a $35.00 price target for the company. UBS Group raised their price target on NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 11th. CLSA set a $41.00 price target on NuScale Power and gave the company an “outperform” rating in a report on Tuesday, May 27th. Finally, Canaccord Genuity Group raised their price target on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.09.

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.