Cadent Capital Advisors LLC Acquires Shares of 22,963 NuScale Power Corporation (NYSE:SMR)

Cadent Capital Advisors LLC purchased a new stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,963 shares of the company's stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SMR. Vanguard Group Inc. raised its stake in NuScale Power by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock worth $151,113,000 after acquiring an additional 635,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in NuScale Power by 1.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company's stock worth $101,998,000 after buying an additional 89,949 shares during the period. Samsung C&T Corp purchased a new position in NuScale Power during the 4th quarter worth approximately $46,745,000. Geode Capital Management LLC lifted its stake in NuScale Power by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock valued at $35,249,000 after acquiring an additional 135,613 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of NuScale Power in the 4th quarter valued at $22,823,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

Analysts Set New Price Targets

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

NuScale Power Stock Performance

Shares of NYSE:SMR traded down $0.09 during midday trading on Thursday, reaching $39.15. 10,529,084 shares of the company's stock traded hands, compared to its average volume of 9,651,669. The company has a fifty day simple moving average of $25.08 and a two-hundred day simple moving average of $21.69. NuScale Power Corporation has a 1 year low of $6.88 and a 1 year high of $45.31. The company has a market cap of $11.13 billion, a P/E ratio of -28.58 and a beta of 2.00.

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

Insider Activity at NuScale Power

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares of the company's stock, valued at $7,810,211.91. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the sale, the vice president now owns 1,218 shares of the company's stock, valued at $20,632.92. The trade was a 56.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,278 shares of company stock valued at $2,286,280. 1.27% of the stock is owned by corporate insiders.

About NuScale Power

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.