NuScale Power Corporation $SMR Shares Bought by IFP Advisors Inc

IFP Advisors Inc grew its holdings in NuScale Power Corporation (NYSE:SMR) by 55.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,745 shares of the company’s stock after purchasing an additional 624 shares during the quarter. IFP Advisors Inc’s holdings in NuScale Power were worth $69,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after purchasing an additional 1,705,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NuScale Power by 20.3% during 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 buying an additional 1,153,158 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in NuScale Power during the first quarter worth $14,271,000. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 512,618 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of NuScale Power by 623.4% in the first quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock valued at $6,475,000 after acquiring an additional 394,065 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Stock Down 0.0%

SMR stock opened at $44.25 on Tuesday. The company has a market cap of $12.60 billion, a price-to-earnings ratio of -37.18 and a beta of 2.02. The business has a fifty day simple moving average of $38.41 and a 200-day simple moving average of $33.78. NuScale Power Corporation has a 52 week low of $11.08 and a 52 week high of $57.42.

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

Analyst Ratings Changes

A number of research firms recently commented on SMR. Royal Bank Of Canada assumed coverage on NuScale Power in a research report on Monday, September 15th. They set a “sector perform” rating and a $35.00 price objective for the company. Canaccord Genuity Group lifted their price target on shares of NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Citigroup initiated coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a “neutral” rating and a $46.00 price objective for the company. Barclays assumed coverage on shares of NuScale Power in a research report on Monday, September 29th. They set an “equal weight” rating and a $45.00 target price on the stock. Finally, 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 target for the company. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.09.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total value of $3,479,082.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 15,048,847 shares of company stock worth $606,761,579. 1.96% of the stock is currently owned by corporate insiders.

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.