Nuveen LLC Makes New $2.96 Million Investment in NuScale Power Corporation $SMR

Key Points

• Nuveen LLC has made a significant investment of approximately $2.96 million in NuScale Power Corporation, acquiring 209,113 shares in the first quarter.
• NuScale Power's stock has seen a 5.1% decline recently, trading at $34.62, with a market cap of $9.86 billion and a price-to-earnings ratio of -29.09.
• Insiders of NuScale Power have recently sold large quantities of shares, with COO Carl M. Fisher and CFO Robert Ramsey Hamady reducing their ownership by 16.69% and 39.83%, respectively.

Nuveen LLC acquired a new stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 209,113 shares of the company's stock, valued at approximately $2,961,000. Nuveen LLC owned 0.07% of NuScale Power as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in NuScale Power during the fourth quarter valued at approximately $33,000. NBC Securities Inc. lifted its stake in NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after buying an additional 3,309 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in NuScale Power in the first quarter valued at approximately $141,000. Rakuten Securities Inc. lifted its stake in NuScale Power by 36.4% in the first quarter. Rakuten Securities Inc. now owns 10,213 shares of the company's stock valued at $145,000 after buying an additional 2,723 shares in the last quarter. Finally, Lauer Wealth LLC bought a new position in NuScale Power in the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Trading Down 5.1%

Shares of NYSE:SMR traded down $1.86 on Friday, hitting $34.62. The company had a trading volume of 8,478,735 shares, compared to its average volume of 12,817,744. NuScale Power Corporation has a 1-year low of $6.88 and a 1-year high of $53.50. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of -29.09 and a beta of 2.06. The stock has a 50 day moving average price of $40.51 and a 200 day moving average price of $28.14.

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

Insider Activity

In related news, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the transaction, the chief operating officer directly owned 90,864 shares in the company, valued at approximately $4,033,452.96. This represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the transaction, the chief financial officer owned 46,283 shares in the company, valued at $1,647,211.97. This trade represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on SMR shares. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Citigroup started coverage on shares of NuScale Power in a research note on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target on the stock. UBS Group lifted their price target on shares of NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Finally, BNP Paribas Exane started coverage on shares of NuScale Power in a research note on Friday, July 25th. They issued a "neutral" rating and a $41.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $34.60.

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.