CloudAlpha Capital Management Limited Hong Kong Makes New Investment in NuScale Power Corporation (NYSE:SMR)

Key Points

• CloudAlpha Capital Management Limited has invested approximately $14.27 million in NuScale Power Corporation, acquiring over 1 million shares during the first quarter, making it the firm's 16th largest position.
• NuScale Power recently reported quarterly earnings with an EPS of ($0.11), beating analysts' expectations, and generated revenue of $13.38 million, significantly higher than the consensus estimate.
• Currently, 78.37% of NuScale Power's stock is owned by hedge funds and institutional investors, which indicates strong institutional support for the company.

CloudAlpha Capital Management Limited Hong Kong bought a new stake in NuScale Power Corporation (NYSE:SMR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,007,814 shares of the company's stock, valued at approximately $14,271,000. NuScale Power makes up approximately 1.1% of CloudAlpha Capital Management Limited Hong Kong's investment portfolio, making the stock its 16th biggest position. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.36% of NuScale Power at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SMR. Farther Finance Advisors LLC increased its position in shares of NuScale Power by 6.9% during the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after acquiring an additional 833 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of NuScale Power by 16.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock valued at $159,000 after acquiring an additional 1,260 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of NuScale Power by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company's stock valued at $379,000 after acquiring an additional 1,314 shares during the last quarter. Barclays PLC increased its position in shares of NuScale Power by 1.0% during the fourth quarter. Barclays PLC now owns 152,237 shares of the company's stock valued at $2,730,000 after acquiring an additional 1,446 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in shares of NuScale Power during the fourth quarter valued at approximately $33,000. Institutional investors own 78.37% of the company's stock.

Insider Transactions at NuScale Power

In other news, insider Clayton Scott sold 10,019 shares of NuScale Power stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, the insider owned 86,965 shares in the company, valued at approximately $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of NuScale Power stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the transaction, the vice president owned 1,218 shares in the company, valued at approximately $20,632.92. This represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,278 shares of company stock worth $1,786,990. Company insiders own 1.27% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Northland Capmk raised NuScale Power to a "hold" rating in a research report on Monday, July 7th. Citigroup assumed coverage on NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 target price for the company. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Finally, The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, NuScale Power has a consensus rating of "Hold" and an average target price of $33.00.

NuScale Power Stock Up 1.3%

NYSE:SMR traded up $0.66 during trading hours on Friday, hitting $51.69. 9,911,484 shares of the company's stock traded hands, compared to its average volume of 11,970,320. The firm has a market cap of $14.70 billion, a P/E ratio of -37.73 and a beta of 2.04. NuScale Power Corporation has a 52 week low of $6.88 and a 52 week high of $53.39. The business's fifty day simple moving average is $37.42 and its two-hundred day simple moving average is $25.23.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly 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. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The firm had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. On average, analysts expect 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.