AM Investment Strategies LLC Makes New $378,000 Investment in NuScale Power Corporation (NYSE:SMR)

Key Points

• AM Investment Strategies LLC acquired a new stake in NuScale Power, purchasing 26,660 shares valued at approximately $378,000 during the first quarter.
• Several institutional investors, including CloudAlpha Capital Management and Cetera Investment Advisers, have significantly increased their stakes in NuScale Power, reflecting growing institutional interest in the company.
• NuScale Power's stock recently had a price target revised by UBS Group from $17.00 to $34.00, with a consensus rating of "Hold" based on insights from multiple research analysts.

AM Investment Strategies LLC acquired a new stake in NuScale Power Corporation (NYSE:SMR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 26,660 shares of the company's stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in NuScale Power in the fourth quarter worth approximately $33,000. NBC Securities Inc. boosted its position in shares of NuScale Power by 165,450.0% during 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 during the last quarter. PNC Financial Services Group Inc. lifted its holdings in NuScale Power by 2,980.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after acquiring an additional 3,576 shares during the period. Altshuler Shaham Ltd bought a new position in shares of NuScale Power in the fourth quarter worth about $139,000. Finally, Summit Investment Advisors Inc. raised its stake in NuScale Power by 16.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock valued at $159,000 after purchasing an additional 1,260 shares during the period. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Stock Performance

NYSE:SMR traded up $0.66 during mid-day trading on Friday, hitting $51.69. 9,911,484 shares of the company's stock traded hands, compared to its average volume of 11,970,320. The company has a fifty day moving average of $37.42 and a 200 day moving average of $25.23. NuScale Power Corporation has a twelve month low of $6.88 and a twelve month high of $53.39. The company has a market capitalization of $14.70 billion, a P/E ratio of -37.73 and a beta of 2.04.

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

Wall Street Analysts Forecast Growth

SMR has been the subject of several research analyst reports. Northland Capmk upgraded NuScale Power to a "hold" rating in a report on Monday, July 7th. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. Citigroup began coverage on NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective for the company. Finally, Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.00.

Insider Transactions at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 26,345 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jacqueline F. Engel sold 1,565 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the transaction, the vice president owned 1,218 shares in the company, 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 have sold 95,278 shares of company stock worth $1,786,990 over the last quarter. 1.27% of the stock is currently owned by insiders.

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.