Ameriprise Financial Inc. Buys 13,373 Shares of NuScale Power Co. (NYSE:SMR)

Ameriprise Financial Inc. raised its stake in NuScale Power Co. (NYSE:SMR - Free Report) by 34.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,612 shares of the company's stock after purchasing an additional 13,373 shares during the period. Ameriprise Financial Inc.'s holdings in NuScale Power were worth $943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its position in NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after buying an additional 1,500 shares during the last quarter. Twin Tree Management LP acquired a new position in NuScale Power in the 4th quarter valued at $42,000. Amalgamated Bank grew its holdings in NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after buying an additional 986 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in NuScale Power by 2,980.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after buying an additional 3,576 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in NuScale Power in the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Stock Down 0.2%

Shares of SMR stock traded down $0.07 during trading hours on Thursday, reaching $31.12. The company had a trading volume of 14,277,516 shares, compared to its average volume of 9,201,988. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. NuScale Power Co. has a twelve month low of $6.88 and a twelve month high of $36.85. The company has a market capitalization of $8.85 billion, a P/E ratio of -32.76 and a beta of 2.00. The stock's fifty day simple moving average is $20.28 and its 200 day simple moving average is $20.96.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. The company had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. As a group, sell-side analysts expect that NuScale Power Co. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

SMR has been the subject of a number of research analyst reports. BTIG Research reiterated a "buy" rating on shares of NuScale Power in a report on Tuesday, May 13th. UBS Group increased their price target on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.00.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,774 shares of company stock worth $2,780,768 in the last three months. 1.27% of the stock is owned by company insiders.

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.