Bleakley Financial Group LLC Purchases 32,715 Shares of NuScale Power Corporation (NYSE:SMR)

Bleakley Financial Group LLC grew its stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 76.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,311 shares of the company's stock after acquiring an additional 32,715 shares during the quarter. Bleakley Financial Group LLC's holdings in NuScale Power were worth $1,066,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC raised its stake in NuScale Power by 366.2% during the 1st quarter. CWM LLC now owns 44,512 shares of the company's stock worth $630,000 after acquiring an additional 34,965 shares during the period. Arizona State Retirement System raised its stake in NuScale Power by 19.8% during the 1st quarter. Arizona State Retirement System now owns 29,638 shares of the company's stock worth $420,000 after acquiring an additional 4,899 shares during the period. Bank of New York Mellon Corp raised its stake in NuScale Power by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 258,626 shares of the company's stock worth $3,662,000 after acquiring an additional 12,879 shares during the period. Teacher Retirement System of Texas raised its stake in NuScale Power by 20.9% during the 1st quarter. Teacher Retirement System of Texas now owns 45,454 shares of the company's stock worth $644,000 after acquiring an additional 7,852 shares during the period. Finally, Clear Creek Financial Management LLC raised its stake in NuScale Power by 19.4% during the 1st quarter. Clear Creek Financial Management LLC now owns 26,790 shares of the company's stock worth $379,000 after acquiring an additional 4,348 shares during the period. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Trading Up 1.0%

SMR traded up $0.46 during trading hours on Thursday, hitting $46.55. The company's stock had a trading volume of 11,878,730 shares, compared to its average volume of 10,029,381. The business's 50-day moving average price is $33.56 and its 200-day moving average price is $23.85. NuScale Power Corporation has a 12 month low of $6.88 and a 12 month high of $49.12. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of -34.05 and a beta of 2.04.

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

Insider Buying and Selling

In related news, insider Clayton Scott sold 10,019 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.78, for a total value of $168,118.82. Following the sale, the insider owned 86,965 shares in the company, valued at approximately $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,278 shares of company stock worth $1,786,990. Insiders own 1.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Citigroup assumed coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective on the stock. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. Finally, Northland Securities assumed coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of "Hold" and a consensus price target of $32.00.

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.