Florida Financial Advisors LLC Takes Position in NuScale Power Corporation (NYSE:SMR)

Florida Financial Advisors LLC acquired a new stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,410 shares of the company's stock, valued at approximately $219,000.

A number of other hedge funds also recently made changes to their positions in SMR. Samsung C&T Corp purchased a new stake in shares of NuScale Power during the fourth quarter valued at approximately $46,745,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of NuScale Power during the fourth quarter valued at approximately $22,823,000. Vanguard Group Inc. grew its position in shares of NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock worth $151,113,000 after buying an additional 635,271 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of NuScale Power during the fourth quarter worth approximately $7,628,000. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of NuScale Power during the first quarter worth approximately $5,938,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

Insiders Place Their Bets

In other news, insider Clayton Scott sold 10,019 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the transaction, the insider owned 86,965 shares of the company's stock, valued at approximately $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 1,565 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president directly owned 1,218 shares of the company's stock, valued at approximately $20,632.92. This trade represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock valued at $1,786,990 over the last 90 days. 1.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SMR. Citigroup began coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target for the company. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. Northland Securities began coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price target for the company. Finally, BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $32.00.

NuScale Power Trading Up 6.8%

NuScale Power stock traded up $3.20 during mid-day trading on Friday, reaching $50.03. The company's stock had a trading volume of 10,997,468 shares, compared to its average volume of 11,313,020. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of -36.60 and a beta of 2.04. The business has a 50 day moving average price of $34.16 and a 200-day moving average price of $24.05. NuScale Power Corporation has a twelve month low of $6.88 and a twelve month high of $50.88.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. The firm had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. On average, equities analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

NuScale Power 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.