Cox Capital Mgt LLC Acquires Shares of 7,250 NuScale Power Corporation $SMR

Key Points

• Cox Capital Mgt LLC acquired 7,250 shares of NuScale Power Corporation for approximately $287,000 during the second quarter.
• Insider selling has been significant, with CFO Robert Ramsey Hamady and Director Corp Fluor selling a total of over 7.1 million shares recently.
• NuScale Power stock currently holds a "Hold" rating from analysts, with an average target price of $36.09, following various upgrades and downgrades from different equity research firms.

Cox Capital Mgt LLC purchased a new position in NuScale Power Corporation (NYSE:SMR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,250 shares of the company's stock, valued at approximately $287,000.

A number of other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after acquiring an additional 359 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of NuScale Power by 0.9% in the first quarter. Deutsche Bank AG now owns 76,082 shares of the company's stock worth $1,077,000 after acquiring an additional 686 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock worth $189,000 after acquiring an additional 833 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in shares of NuScale Power by 185.0% in the second quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company's stock worth $68,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in shares of NuScale Power by 5.2% in the first quarter. Arkadios Wealth Advisors now owns 25,749 shares of the company's stock worth $365,000 after acquiring an additional 1,281 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the transaction, the chief financial officer directly owned 46,283 shares of the company's stock, valued at $1,647,211.97. The trade was a 39.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares of the company's stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,158,260 shares of company stock valued at $298,578,328 in the last three months. 1.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SMR shares. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. UBS Group lifted their target price on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. BNP Paribas upgraded NuScale Power to a "hold" rating in a research report on Friday, July 25th. 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 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, NuScale Power currently has an average rating of "Hold" and an average target price of $36.09.

NuScale Power Trading Down 5.2%

SMR stock opened at $37.60 on Friday. The company has a market capitalization of $10.71 billion, a PE ratio of -31.60 and a beta of 2.03. NuScale Power Corporation has a 12-month low of $10.71 and a 12-month high of $53.50. The business's fifty day moving average price is $40.13 and its 200 day moving average price is $30.58.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal 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.

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