California State Teachers Retirement System Grows Stock Holdings in NuScale Power Co. (NYSE:SMR)

California State Teachers Retirement System raised its position in NuScale Power Co. (NYSE:SMR - Free Report) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,687 shares of the company's stock after acquiring an additional 12,070 shares during the quarter. California State Teachers Retirement System's holdings in NuScale Power were worth $1,429,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SMR. Janney Montgomery Scott LLC purchased a new position in shares of NuScale Power during the fourth quarter valued at about $202,000. KBC Group NV purchased a new position in shares of NuScale Power during the fourth quarter valued at about $70,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NuScale Power by 755.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 115,600 shares of the company's stock valued at $2,255,000 after buying an additional 102,080 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of NuScale Power during the fourth quarter valued at about $764,000. Finally, Financial Advocates Investment Management purchased a new position in shares of NuScale Power during the fourth quarter valued at about $474,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Stock Up 20.9%

NYSE:SMR traded up $7.23 during mid-day trading on Wednesday, hitting $41.78. 32,757,299 shares of the company's stock were exchanged, compared to its average volume of 9,446,951. The business has a fifty day moving average price of $22.07 and a 200 day moving average price of $21.20. The company has a market cap of $11.88 billion, a PE ratio of -43.98 and a beta of 2.00. NuScale Power Co. has a one year low of $6.88 and a one year high of $41.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.06. The firm had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. Equities analysts predict that NuScale Power Co. will post -0.73 EPS for the current year.

Insider Transactions at NuScale Power

In other news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now owns 516,207 shares in the company, valued at approximately $7,810,211.91. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Clayton Scott sold 10,019 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the transaction, the insider now owns 86,965 shares in the company, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,278 shares of company stock worth $2,286,280. Corporate insiders own 1.27% of the company's stock.

Analysts Set New Price Targets

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

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.