Balboa Wealth Partners Buys Shares of 11,779 NuScale Power Corporation $SMR

Key Points

• Balboa Wealth Partners recently acquired 11,779 shares of NuScale Power Corporation, valued at approximately $466,000, during the second quarter.
• Insider selling activity is notable, with Director Corp Fluor selling over 2.37 million shares for about $104.37 million, reducing ownership by 19.04%.
• NuScale Power has a market capitalization of $12.60 billion and reported a quarterly loss, missing earnings expectations with a -221.07% net margin.

Balboa Wealth Partners bought a new stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,779 shares of the company's stock, valued at approximately $466,000.

Several other hedge funds have also bought and sold shares of SMR. Wealth Enhancement Advisory Services LLC lifted its position in NuScale Power by 51.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,522 shares of the company's stock valued at $248,000 after purchasing an additional 5,974 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in NuScale Power by 652.0% during the first quarter. Janney Montgomery Scott LLC now owns 84,778 shares of the company's stock valued at $1,200,000 after purchasing an additional 73,504 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in NuScale Power by 31.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock valued at $2,734,000 after purchasing an additional 46,744 shares during the last quarter. Legacy Advisors LLC bought a new stake in NuScale Power during the first quarter valued at approximately $186,000. Finally, Wealth Effects LLC bought a new stake in NuScale Power during the first quarter valued at approximately $683,000. 78.37% of the stock is currently owned by institutional investors.

Insider Activity

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 15,048,847 shares of company stock valued at $606,761,579 in the last 90 days. 1.96% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SMR has been the subject of several research analyst reports. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research report on Friday, July 25th. Citigroup assumed coverage on shares of NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target on the stock. Bank of America reissued an "underperform" rating and set a $34.00 price target (down from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Finally, Royal Bank Of Canada assumed coverage on shares of NuScale Power in a research note on Monday, September 15th. They set a "sector perform" rating and a $35.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.09.

NuScale Power Stock Performance

SMR stock opened at $44.25 on Tuesday. The company's 50 day moving average price is $38.41 and its two-hundred day moving average price is $33.78. NuScale Power Corporation has a one year low of $11.08 and a one year high of $57.42. The company has a market capitalization of $12.60 billion, a PE ratio of -37.18 and a beta of 2.02.

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). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The firm had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. On average, research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

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.

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