16,187 Shares in NuScale Power Corporation (NYSE:SMR) Purchased by Caitong International Asset Management Co. Ltd

Key Points

• Caitong International Asset Management Co. Ltd acquired 16,187 shares of NuScale Power Corporation (NYSE:SMR) for approximately $229,000 in the first quarter, signaling institutional interest in the company.
• Analysts have varied ratings for NuScale Power, with Canaccord Genuity Group increasing the price target from $36 to $44 and maintaining a "buy" rating, while BTIG Research shifted its rating from "buy" to "neutral."
• NuScale Power reported a quarterly loss of ($0.13) earnings per share, missing the consensus estimate, along with revenue of $8.05 million, below analyst predictions.

Caitong International Asset Management Co. Ltd purchased a new position in NuScale Power Corporation (NYSE:SMR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,187 shares of the company's stock, valued at approximately $229,000.

Other large investors have also recently made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in NuScale Power during the 4th quarter valued at about $33,000. NBC Securities Inc. boosted its stake in shares of NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after buying an additional 3,309 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of NuScale Power in the first quarter worth about $50,000. Altshuler Shaham Ltd purchased a new stake in shares of NuScale Power in the fourth quarter worth about $139,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of NuScale Power during the 1st quarter valued at approximately $141,000. 78.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of recent analyst reports. CLSA set a $41.00 price target on NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. BNP Paribas Exane began coverage on NuScale Power in a report on Friday, July 25th. They set a "neutral" rating and a $41.00 target price for the company. Citigroup began coverage on NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target for the company. BNP Paribas raised NuScale Power to a "hold" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $34.44.

Insider Transactions at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.27% of the stock is owned by corporate insiders.

NuScale Power Trading Down 3.7%

Shares of NuScale Power stock traded down $1.39 during trading hours on Thursday, reaching $35.91. The stock had a trading volume of 10,840,162 shares, compared to its average volume of 13,958,328. The firm has a 50 day simple moving average of $41.28 and a two-hundred day simple moving average of $27.31. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of -30.18 and a beta of 2.06. NuScale Power Corporation has a 1 year low of $6.88 and a 1 year high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last posted its 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). The business had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Sell-side analysts forecast 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.