14,005 Shares in NuScale Power Corporation $SMR Purchased by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC acquired 14,005 shares of NuScale Power Corporation, valued at approximately $554,000, during the 2nd quarter.
• Insider selling remains high, with Director Corp Fluor selling 87,900 shares for over $3.47 million recently, while insiders have sold over 15 million shares in the last three months.
• NuScale Power's stock has experienced an 11% decline, with a current market cap of $13.55 billion and a recent quarterly earnings miss, reporting a net margin of -221.07%.

Moran Wealth Management LLC acquired a new position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,005 shares of the company's stock, valued at approximately $554,000.

Several other hedge funds have also bought and sold shares of SMR. Quantbot Technologies LP bought a new position in shares of NuScale Power in the first quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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. Stone House Investment Management LLC bought a new position in shares of NuScale Power in the first quarter worth approximately $50,000. Geneos Wealth Management Inc. bought a new position in shares of NuScale Power in the first quarter worth approximately $60,000. Finally, Toth Financial Advisory Corp lifted its stake in shares of NuScale Power by 185.0% in the second quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company's stock worth $68,000 after buying an additional 1,110 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the company'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 transaction of $3,479,082.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 15,048,847 shares of company stock worth $606,761,579 over the last three months. 1.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. BNP Paribas Exane assumed coverage on shares of NuScale Power in a research note on Friday, July 25th. They issued a "neutral" rating and a $41.00 target price on the stock. Citigroup assumed coverage on shares of NuScale Power in a research note on Monday, June 23rd. They issued a "neutral" rating and a $46.00 target price on the stock. Northland Securities began coverage on shares of NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price on the stock. Finally, BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.09.

NuScale Power Stock Down 11.0%

Shares of NuScale Power stock opened at $47.55 on Friday. The company has a market cap of $13.55 billion, a price-to-earnings ratio of -39.96 and a beta of 2.02. The company's 50 day moving average is $38.20 and its 200 day moving average is $33.09. NuScale Power Corporation has a twelve month low of $11.08 and a twelve month high of $57.42.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Sell-side analysts expect that NuScale Power Corporation will post -0.73 EPS 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.

Want to see what other hedge funds are holding SMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NuScale Power Corporation (NYSE:SMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.