Canal Insurance CO Sells 50,000 Shares of NuScale Power Corporation $SMR

Canal Insurance CO trimmed its stake in NuScale Power Corporation (NYSE:SMR) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,890 shares of the company’s stock after selling 50,000 shares during the period. NuScale Power comprises approximately 1.3% of Canal Insurance CO’s investment portfolio, making the stock its 26th biggest position. Canal Insurance CO owned approximately 0.06% of NuScale Power worth $6,224,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SMR. Royal Bank of Canada grew its position in shares of NuScale Power by 623.4% in the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock valued at $6,475,000 after buying an additional 394,065 shares during the last quarter. AQR Capital Management LLC boosted its holdings in NuScale Power by 37.4% in the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after acquiring an additional 10,244 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in NuScale Power in the first quarter valued at approximately $390,000. Jones Financial Companies Lllp increased its position in NuScale Power by 9.1% during the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after purchasing an additional 1,394 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 valued at $26,127,000 after purchasing an additional 1,705,411 shares during the period. 78.37% of the stock is owned by institutional investors.

Insider Buying and Selling at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at $1,026,094.11. This trade represents a 46.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a research report on Monday, December 29th. UBS Group set a $20.00 target price on shares of NuScale Power in a report on Tuesday, November 25th. B. Riley decreased their price target on NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Citigroup reissued a “sell” rating and issued a $37.50 price objective (down from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Finally, Bank of America upgraded NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 target price on the stock in a research report on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.75.

NuScale Power Price Performance

Shares of SMR opened at $19.26 on Wednesday. NuScale Power Corporation has a one year low of $11.08 and a one year high of $57.42. The company has a market cap of $5.75 billion, a PE ratio of -6.73 and a beta of 2.12. The stock has a 50-day moving average of $20.00 and a 200-day moving average of $33.04.

NuScale Power (NYSE:SMR) last posted 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 analyst estimates of $11.29 million. During the same period last year, the company posted ($0.18) earnings per share. The firm’s quarterly revenue was up 1635.2% compared to the same quarter last year. Analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.