Bank of America Corp DE Has $22.36 Million Stock Position in NuScale Power Corporation $SMR

Key Points

• Bank of America increased its NuScale Power stake by 33.4% in the first quarter to 2.06 million shares valued at approximately $22.36 million. Institutional investors collectively own 78.37% of the company.
• NuScale reported a sharp operating slowdown, with quarterly revenue falling 99.1% year over year to about $75,000 and an adjusted loss of $0.13 per share. Its cash position rose largely through stock offerings, raising concerns about dilution.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $13.50; potential TVA and industrial-heat projects offer growth opportunities but remain un finalized.

Bank of America Corp DE increased its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 33.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,062,232 shares of the company's stock after purchasing an additional 516,097 shares during the period. Bank of America Corp DE owned 0.56% of NuScale Power worth $22,355,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SMR. Vanguard Group Inc. boosted its position in NuScale Power by 40.5% during the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company's stock worth $220,273,000 after purchasing an additional 4,482,254 shares during the period. Van ECK Associates Corp raised its position in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company's stock valued at $163,176,000 after purchasing an additional 6,227,747 shares during the period. Renaissance Technologies LLC bought a new position in shares of NuScale Power in the first quarter valued at about $59,141,000. Morgan Stanley lifted its stake in shares of NuScale Power by 81.0% during the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company's stock worth $74,788,000 after buying an additional 2,361,532 shares during the last quarter. Finally, Samsung C&T Corp lifted its stake in shares of NuScale Power by 98.9% during the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company's stock worth $186,689,000 after buying an additional 2,578,702 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

Insider Activity

In related news, COO Carl M. Fisher sold 18,771 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the sale, the chief operating officer owned 114,718 shares of the company's stock, valued at $1,073,760.48. This represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.28% of the company's stock.

Key NuScale Power News

Here are the key news stories impacting NuScale Power this week:

• Positive Sentiment: A potential agreement with the Tennessee Valley Authority could involve 6 to 8 gigawatts of NuScale-powered capacity. If finalized, the project could become a major commercial milestone and materially improve the company’s growth outlook. NuScale’s Potential TVA Deal Could Be 6 to 8 Gigawatts
• Positive Sentiment: NuScale is exploring industrial-heat applications for its small modular reactors, potentially supplying high-temperature steam to chemical, fuel and other industrial customers. This could broaden its addressable market beyond electricity generation, although commercial adoption remains unproven. Could Industrial Heat Unlock New Growth for NuScale Stock?
• Positive Sentiment: A memorandum of understanding with Curio and Framatome will evaluate fuel-recycling and advanced-fuel solutions using Curio’s NuCycle technology. The collaboration could support more secure, sustainable fuel supplies for future NuScale deployments, but it is still an evaluation rather than a firm contract. NuScale Advanced Fuel Recycling Collaboration
• Neutral Sentiment: Industry demand for new nuclear reactors is strong, but shortages involving uranium enrichment, pumps and other specialized equipment could delay deployments and raise project costs, creating execution risks for NuScale. The Bottlenecks of the Nuclear Fuel & Supply Chain
• Negative Sentiment: NuScale’s latest-quarter revenue fell roughly 99% to about $75,000 as previously completed FEED studies no longer contributed revenue. Although its cash balance increased by approximately $900 million, the improvement was driven largely by stock offerings, raising concerns about continued dilution and dependence on capital markets. NuScale’s Revenue Fell 99%. Its Cash Pile Grew By $900 Million.

NuScale Power Stock Performance

NYSE:SMR opened at $9.21 on Tuesday. NuScale Power Corporation has a 52 week low of $7.21 and a 52 week high of $57.42. The firm's 50-day simple moving average is $9.40 and its 200 day simple moving average is $11.45. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -3.15 and a beta of 2.26.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business's revenue was down 99.1% compared to the same quarter last year. Sell-side analysts anticipate that NuScale Power Corporation will post -0.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. B. Riley Financial reduced their target price on shares of NuScale Power from $19.00 to $15.00 and set a "buy" rating for the company in a report on Friday. Truist Financial began coverage on shares of NuScale Power in a research report on Monday, July 13th. They set a "hold" rating and a $10.00 price objective for the company. Canaccord Genuity Group reduced their price objective on NuScale Power from $25.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Citigroup reduced their price objective on NuScale Power from $7.50 to $6.50 and set a "sell" rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NuScale Power in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $13.50.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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