8,223 Shares in NuScale Power Corporation $SMR Bought by Sheets Smith Wealth Management

Key Points

• Sheets Smith Wealth Management acquired 8,223 shares of NuScale Power Corporation for approximately $325,000 in the second quarter.
• Insider transactions reported significant sales, including CFO Robert Ramsey Hamady selling 30,641 shares and COO Carl M. Fisher selling 18,206 shares, indicating a decline in their holdings.
• NuScale Power's stock is currently down 5.2%, with a 52-week range between $10.71 and $53.50, after announcing earnings that missed estimates.

Sheets Smith Wealth Management purchased a new stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,223 shares of the company's stock, valued at approximately $325,000.

A number of other hedge funds have also modified their holdings of SMR. Quantbot Technologies LP purchased a new position in shares of NuScale Power in the first quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in NuScale Power by 84.5% in the 2nd 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 period. NBC Securities Inc. raised its position in NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after buying an additional 3,309 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in NuScale Power during the 1st quarter valued at approximately $50,000. Finally, Geneos Wealth Management Inc. acquired a new stake in NuScale Power during the 1st quarter valued at approximately $60,000. 78.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Carl M. Fisher sold 18,206 shares of NuScale Power stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the sale, the chief operating officer directly owned 90,864 shares in the company, valued at $4,033,452.96. This represents a 16.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,158,260 shares of company stock valued at $298,578,328 in the last three months. 1.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group increased their price objective 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. Northland Securities started coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price target on the stock. BNP Paribas upgraded NuScale Power to a "hold" rating in a research note on Friday, July 25th. BNP Paribas Exane started coverage on NuScale Power in a research note on Friday, July 25th. They issued a "neutral" rating and a $41.00 target price on the stock. Finally, Citigroup began coverage on NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $36.09.

NuScale Power Stock Down 5.2%

SMR stock opened at $37.60 on Friday. NuScale Power Corporation has a 52-week low of $10.71 and a 52-week high of $53.50. The firm has a market cap of $10.71 billion, a P/E ratio of -31.60 and a beta of 2.03. The company's 50-day simple moving average is $40.13 and its 200-day simple moving average is $30.58.

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

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