KLP Kapitalforvaltning AS Boosts Position in NuScale Power Corporation $SMR

KLP Kapitalforvaltning AS grew its stake in NuScale Power Corporation (NYSE:SMR) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,600 shares of the company’s stock after buying an additional 1,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in NuScale Power were worth $1,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. increased its position in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after buying an additional 359 shares in the last quarter. Union Bancaire Privee UBP SA increased its position in NuScale Power by 9.1% in the second quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company’s stock worth $182,000 after buying an additional 386 shares in the last quarter. Albion Financial Group UT increased its position in NuScale Power by 26.2% in the second quarter. Albion Financial Group UT now owns 2,045 shares of the company’s stock worth $81,000 after buying an additional 425 shares in the last quarter. Deutsche Bank AG increased its position in NuScale Power by 0.9% in the first quarter. Deutsche Bank AG now owns 76,082 shares of the company’s stock worth $1,077,000 after buying an additional 686 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company’s stock worth $189,000 after buying an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SMR shares. Bank of America reaffirmed an “underperform” rating and issued a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. UBS Group upped their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Barclays began coverage on NuScale Power in a research note on Monday, September 29th. They set an “equal weight” rating and a $45.00 price objective on the stock. Northland Capmk raised NuScale Power to a “hold” rating in a research note on Monday, July 7th. Finally, Citigroup initiated coverage on NuScale Power in a research note on Monday, June 23rd. They set a “neutral” rating and a $46.00 price target for the company. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.67.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 15,048,847 shares of company stock worth $606,761,579. Company insiders own 1.96% of the company’s stock.

NuScale Power Trading Up 1.1%

NYSE SMR opened at $45.53 on Wednesday. The firm has a market capitalization of $12.97 billion, a P/E ratio of -38.26 and a beta of 2.02. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $53.50. The firm’s fifty day simple moving average is $37.99 and its two-hundred day simple moving average is $32.72.

NuScale Power (NYSE:SMR) last issued 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 positive return on equity of 2.61% and a negative net margin of 221.07%.The firm had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. As a group, sell-side analysts predict 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.