Castle Rock Wealth Management LLC Takes $352,000 Position in NuScale Power Corporation $SMR

Key Points

• Castle Rock Wealth Management LLC has acquired a new stake in NuScale Power Corporation, purchasing 8,906 shares valued at approximately $352,000 in the second quarter.
• Insider transactions have been significant, with Director Corp Fluor selling 854,033 shares, resulting in a 48.45% decrease in their holdings, while insiders sold a total of about $569.9 million worth of shares in the last quarter.
• NuScale Power reported a quarterly revenue of $8.05 million, falling short of analyst expectations, while analysts have given the stock an average rating of "Hold" with a consensus price target of $36.67.

Castle Rock Wealth Management LLC purchased a new stake in NuScale Power Corporation (NYSE:SMR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,906 shares of the company's stock, valued at approximately $352,000.

A number of other large investors have also made changes to their positions in SMR. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of NuScale Power in the fourth quarter valued at approximately $207,000. GAMMA Investing LLC grew its position in NuScale Power by 5,590.4% in the first quarter. GAMMA Investing LLC now owns 15,364 shares of the company's stock worth $218,000 after acquiring an additional 15,094 shares during the period. Rhumbline Advisers grew its position in NuScale Power by 12.8% in the first quarter. Rhumbline Advisers now owns 125,708 shares of the company's stock worth $1,780,000 after acquiring an additional 14,304 shares during the period. NBC Securities Inc. grew its position in 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 acquiring an additional 3,309 shares during the period. Finally, Park Avenue Securities LLC grew its position in NuScale Power by 122.1% in the first quarter. Park Avenue Securities LLC now owns 36,451 shares of the company's stock worth $516,000 after acquiring an additional 20,039 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 854,033 shares of the company's stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $42.41, for a total transaction of $36,219,539.53. Following the sale, the director owned 908,761 shares in the company, valued at $38,540,554.01. This represents a 48.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 14,140,086 shares of company stock worth $569,889,872. 1.27% of the stock is owned by corporate insiders.

NuScale Power Price Performance

Shares of NYSE SMR opened at $38.18 on Thursday. The stock's 50-day moving average is $38.25 and its two-hundred day moving average is $31.91. NuScale Power Corporation has a 1-year low of $11.08 and a 1-year high of $53.50. The company has a market cap of $10.88 billion, a price-to-earnings ratio of -32.08 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly 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). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The company had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. Equities research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SMR shares. BNP Paribas Exane started coverage on NuScale Power in a research report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price objective for the company. BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Barclays began coverage on NuScale Power in a research note on Monday, September 29th. They set an "equal weight" rating and a $45.00 price target on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of NuScale Power in a research note on Wednesday. Finally, Northland Securities began coverage on NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NuScale Power currently has an average rating of "Hold" and a consensus price target of $36.67.

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.

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