Cwm LLC Sells 28,252 Shares of NuScale Power Corporation $SMR

Key Points

• Cwm LLC reduced its stake in NuScale Power Corporation by 63.5%, selling 28,252 shares and now holding 16,260 shares valued at approximately $643,000.
• Insider selling includes a significant transaction where a director sold over 2.37 million shares for about $104.37 million, decreasing their ownership by 19.04%.
• NuScale Power's stock has gained 9.2% recently, with shares opening at $37.92 and a market cap of $10.80 billion amid various institutional investment activities.

Cwm LLC lowered its position in NuScale Power Corporation (NYSE:SMR - Free Report) by 63.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,260 shares of the company's stock after selling 28,252 shares during the period. Cwm LLC's holdings in NuScale Power were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after acquiring an additional 1,705,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after acquiring an additional 1,153,158 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of NuScale Power during the first quarter valued at approximately $14,271,000. Vanguard Group Inc. raised its stake in shares of NuScale Power by 6.1% during the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after acquiring an additional 512,618 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of NuScale Power by 623.4% during the first quarter. Royal Bank of Canada now owns 457,276 shares of the company's stock valued at $6,475,000 after acquiring an additional 394,065 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

NuScale Power Stock Up 9.2%

Shares of NYSE:SMR opened at $37.92 on Friday. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of -31.87 and a beta of 2.02. NuScale Power Corporation has a 52 week low of $11.08 and a 52 week high of $57.42. The firm has a 50 day moving average of $38.40 and a 200 day moving average of $33.98.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. On average, sell-side analysts expect that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction on Friday, September 19th. The shares were 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 approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 15,048,847 shares of company stock valued at $606,761,579 over the last 90 days. 1.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SMR has been the subject of several research analyst reports. Northland Securities initiated coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 price target for the company. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Bank of America reissued an "underperform" rating and issued a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. UBS Group boosted their price objective on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Finally, BNP Paribas Exane downgraded shares of NuScale Power from a "neutral" rating to an "underperform" rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $37.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.