Bosun Asset Management LLC Reduces Stock Position in NuScale Power Corporation $SMR

Key Points

• Bosun Asset Management LLC decreased its stock position in NuScale Power Corporation by 57.3% in Q1, now holding 91,942 shares valued at approximately $1.3 million.
• Several institutional investors made significant adjustments, with CloudAlpha Capital acquiring a new position worth $14.27 million, and Vanguard increasing its stake by 6.1%, now owning nearly 8.94 million shares.
• Analysts currently have a consensus rating of "Hold" for NuScale Power, with target prices ranging from $24.00 to $60.00 per share.

Bosun Asset Management LLC reduced its position in NuScale Power Corporation (NYSE:SMR - Free Report) by 57.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,942 shares of the company's stock after selling 123,373 shares during the period. Bosun Asset Management LLC's holdings in NuScale Power were worth $1,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CloudAlpha Capital Management Limited Hong Kong purchased a new position in NuScale Power during the first quarter worth $14,271,000. Vanguard Group Inc. increased its position in NuScale Power by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock worth $126,598,000 after purchasing an additional 512,618 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in NuScale Power during the 1st quarter worth about $5,938,000. Royal Bank of Canada raised its stake in NuScale Power by 623.4% in the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company's stock valued at $6,475,000 after purchasing an additional 394,065 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in NuScale Power in the 4th quarter valued at about $4,273,000. Institutional investors and hedge funds own 78.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SMR. 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 report on Tuesday, May 20th. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Canaccord Genuity Group increased their target price on NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday. BNP Paribas upgraded NuScale Power to a "hold" rating in a report on Friday, July 25th. Finally, Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $36.20.

NuScale Power Trading Up 8.2%

Shares of NYSE SMR opened at $40.28 on Thursday. The company has a market cap of $11.47 billion, a P/E ratio of -33.85 and a beta of 2.03. NuScale Power Corporation has a 12-month low of $6.88 and a 12-month high of $53.50. The stock has a fifty day moving average price of $40.38 and a 200 day moving average price of $28.40.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. On average, sell-side analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the transaction, the chief financial officer owned 46,283 shares of the company's stock, valued at $1,647,211.97. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Carl M. Fisher sold 18,206 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the completion of the sale, the chief operating officer owned 90,864 shares of the company's stock, valued at $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.96% of the company's stock.

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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