AXQ Capital LP Invests $425,000 in NuScale Power Corporation $SMR

AXQ Capital LP purchased a new stake in NuScale Power Corporation (NYSE:SMR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,753 shares of the company’s stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SMR. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of NuScale Power by 84.5% during 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 during the last quarter. Rothschild Investment LLC lifted its position in NuScale Power by 45.2% during the 2nd quarter. Rothschild Investment LLC now owns 1,125 shares of the company’s stock worth $45,000 after buying an additional 350 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock valued at $46,000 after purchasing an additional 203 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of NuScale Power during the second quarter worth $61,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of NuScale Power by 185.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company’s stock valued at $68,000 after purchasing an additional 1,110 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $43.99, for a total value of $104,369,046.37. Following the sale, the director owned 10,085,344 shares in the company, valued at $443,654,282.56. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 15,030,641 shares of company stock valued at $605,953,415. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SMR has been the topic of several analyst reports. Wall Street Zen lowered NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Zacks Research lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Barclays initiated coverage on shares of NuScale Power in a research note on Monday, September 29th. They set an “equal weight” rating and a $45.00 price target for the company. Cantor Fitzgerald initiated coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Finally, UBS Group lifted their price target on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $37.50.

NuScale Power Stock Down 0.6%

Shares of NuScale Power stock opened at $18.58 on Monday. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $57.42. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of -6.50 and a beta of 2.03. The firm’s 50-day moving average price is $36.63 and its two-hundred day moving average price is $36.64.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. During the same period last year, the company posted ($0.18) EPS. The business’s revenue was up 1635.2% on a year-over-year basis. On average, sell-side analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current 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.