Cwm LLC Acquires 34,965 Shares of NuScale Power Corporation (NYSE:SMR)

CWM LLC lifted its stake in NuScale Power Corporation (NYSE:SMR - Free Report) by 366.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,512 shares of the company's stock after buying an additional 34,965 shares during the quarter. CWM LLC's holdings in NuScale Power were worth $630,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SMR. CoreCap Advisors LLC purchased a new stake in NuScale Power during the fourth quarter valued at $33,000. NBC Securities Inc. increased its position in NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after purchasing an additional 3,309 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of NuScale Power by 2,980.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after buying an additional 3,576 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in NuScale Power in the 4th quarter worth approximately $139,000. Finally, Rakuten Securities Inc. boosted its stake in NuScale Power by 36.4% in the 1st quarter. Rakuten Securities Inc. now owns 10,213 shares of the company's stock worth $145,000 after purchasing an additional 2,723 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Price Performance

Shares of NYSE SMR traded up $0.66 during trading hours on Friday, hitting $51.69. 9,911,484 shares of the stock were exchanged, compared to its average volume of 11,402,542. NuScale Power Corporation has a one year low of $6.88 and a one year high of $53.39. The firm has a market capitalization of $14.70 billion, a P/E ratio of -37.73 and a beta of 2.04. The company's 50 day moving average is $36.87 and its 200 day moving average is $25.02.

NuScale Power (NYSE:SMR - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. The business 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 273.36% and a positive return on equity of 0.09%. Research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were 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 of the company's stock, 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. In the last 90 days, insiders sold 95,278 shares of company stock valued at $1,786,990. 1.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. UBS Group increased their price target on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. 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 report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $33.00.

NuScale Power Company 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.