Allspring Global Investments Holdings LLC Sells 27,322 Shares of NuScale Power Corporation $SMR

Key Points

• Allspring Global Investments Holdings LLC decreased its stake in NuScale Power Corporation by 20.1%, selling 27,322 shares, resulting in a total ownership of 108,414 shares valued at approximately $3.9 million.
• NuScale Power reported a loss of ($0.13) earnings per share, missing the consensus estimate and showing a negative net margin of 221.07% with revenue of $8.05 million for the quarter.
• Insider transactions at NuScale Power have seen 15 million shares sold in the last 90 days, with insiders owning only 1.96% of the company after recent sales.

Allspring Global Investments Holdings LLC reduced its stake in NuScale Power Corporation (NYSE:SMR - Free Report) by 20.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,414 shares of the company's stock after selling 27,322 shares during the period. Allspring Global Investments Holdings LLC's holdings in NuScale Power were worth $3,916,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SMR. Quantbot Technologies LP bought a new position in NuScale Power in the first quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in 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 purchasing an additional 359 shares during the period. Stone House Investment Management LLC purchased a new stake in NuScale Power in the first quarter worth about $50,000. Geneos Wealth Management Inc. purchased a new stake in NuScale Power in the first quarter worth about $60,000. Finally, Toth Financial Advisory Corp grew its holdings in 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 purchasing an additional 1,110 shares during the period. 78.37% of the stock is owned by institutional investors.

NuScale Power Trading Down 0.0%

Shares of SMR stock opened at $44.25 on Tuesday. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $57.42. The firm's 50 day moving average is $38.41 and its 200 day moving average is $33.78. The stock has a market capitalization of $12.60 billion, a P/E ratio of -37.18 and a beta of 2.02.

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

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 87,900 shares of the firm'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 value of $3,479,082.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 15,048,847 shares of company stock valued at $606,761,579 in the last 90 days. Company insiders own 1.96% of the company's stock.

Analyst Ratings Changes

SMR has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective on the stock. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a report on Friday, July 25th. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. UBS Group upped their price objective on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group upped their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.09.

About NuScale Power

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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