EVR Research LP Increases Holdings in NuScale Power Corporation $SMR

Key Points

• EVR Research LP significantly increased its holdings in NuScale Power Corporation by 180.0%, now owning 140,000 shares valued at $1,982,000.
• Analysts have varying opinions on NuScale Power, with UBS Group raising its price target from $34.00 to $38.00 and maintaining a "neutral" rating.
• NuScale Power reported earnings of ($0.13) per share, missing estimates, with revenue of $8.05 million, significantly below expectations of $10.49 million.

EVR Research LP lifted its position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 180.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,000 shares of the company's stock after purchasing an additional 90,000 shares during the period. NuScale Power accounts for approximately 0.6% of EVR Research LP's portfolio, making the stock its 24th largest position. EVR Research LP's holdings in NuScale Power were worth $1,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SMR. Raymond James Financial Inc. purchased a new stake in NuScale Power in the fourth quarter worth about $2,755,000. Barclays PLC lifted its holdings in NuScale Power by 1.0% in the fourth quarter. Barclays PLC now owns 152,237 shares of the company's stock worth $2,730,000 after buying an additional 1,446 shares during the period. MetLife Investment Management LLC lifted its holdings in NuScale Power by 13.0% in the fourth quarter. MetLife Investment Management LLC now owns 51,278 shares of the company's stock worth $919,000 after buying an additional 5,915 shares during the period. Tower Research Capital LLC TRC lifted its holdings in NuScale Power by 140.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,753 shares of the company's stock worth $247,000 after buying an additional 8,039 shares during the period. Finally, Stifel Financial Corp lifted its holdings in NuScale Power by 45.4% in the fourth quarter. Stifel Financial Corp now owns 172,096 shares of the company's stock worth $3,086,000 after buying an additional 53,741 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SMR has been the subject of several research analyst reports. Bank of America initiated coverage on shares of NuScale Power in a report on Thursday, August 21st. They issued a "neutral" rating and a $36.00 price objective for the company. Citigroup initiated coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective for the company. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Northland Securities began coverage on shares of NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price objective for the company. Finally, Canaccord Genuity Group lifted their target price on shares of NuScale Power from $36.00 to $44.00 and gave the company a "buy" rating in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.60.

NuScale Power Stock Performance

Shares of SMR traded down $1.86 on Friday, hitting $34.62. 8,478,735 shares of the stock traded hands, compared to its average volume of 12,817,744. The company has a market capitalization of $9.86 billion, a PE ratio of -29.09 and a beta of 2.06. The business has a 50 day simple moving average of $40.51 and a 200 day simple moving average of $28.14. NuScale Power Corporation has a one year low of $6.88 and a one year high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last announced 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). The firm had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. On average, equities analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares of the company's stock, valued at $1,647,211.97. This trade represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the sale, the chief operating officer directly owned 90,864 shares of the company's stock, valued at $4,033,452.96. This trade represents a 16.69% decrease in their position. The disclosure for this sale can be found here. 1.27% of the stock is owned by company insiders.

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.