NuScale Power Corporation $SMR Shares Purchased by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in NuScale Power Corporation by 35.4%, acquiring an additional 87,477 shares, bringing its total ownership to 334,898 shares valued at approximately $13.25 million.
• Notable insider sales included Director Corp Fluor selling over 1.19 million shares valued at nearly $46.5 million, resulting in an 8.74% decrease in their ownership.
• Recent analyst ratings for NuScale Power show a consensus rating of "Hold" with an average target price of $36.09, indicating mixed views on the stock's future performance.

Exchange Traded Concepts LLC lifted its position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 35.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 334,898 shares of the company's stock after buying an additional 87,477 shares during the period. Exchange Traded Concepts LLC owned approximately 0.12% of NuScale Power worth $13,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SMR. Ameriprise Financial Inc. increased its holdings in shares of NuScale Power by 34.1% during the 4th quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock worth $943,000 after buying an additional 13,373 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of NuScale Power during the 4th quarter worth approximately $272,000. Deutsche Bank AG increased its holdings in shares of NuScale Power by 50.0% during the 4th quarter. Deutsche Bank AG now owns 75,396 shares of the company's stock worth $1,352,000 after buying an additional 25,131 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of NuScale Power by 27.4% during the 4th quarter. Janus Henderson Group PLC now owns 39,100 shares of the company's stock worth $700,000 after buying an additional 8,400 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of NuScale Power by 3.9% during the 4th quarter. Nuveen Asset Management LLC now owns 202,479 shares of the company's stock worth $3,630,000 after buying an additional 7,522 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Stock Down 3.9%

SMR stock traded down $1.81 during midday trading on Monday, hitting $44.96. The company's stock had a trading volume of 26,178,712 shares, compared to its average volume of 16,340,078. NuScale Power Corporation has a 52-week low of $10.40 and a 52-week high of $53.50. The firm has a market capitalization of $12.81 billion, a P/E ratio of -37.78 and a beta of 2.03. The firm has a 50-day simple moving average of $40.48 and a 200-day simple moving average of $30.28.

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

Insider Buying and Selling at NuScale Power

In other NuScale Power 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 value of $1,090,513.19. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Corp Fluor sold 1,193,504 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $38.95, for a total transaction of $46,486,980.80. Following the completion of the transaction, the director directly owned 12,457,907 shares of the company's stock, valued at $485,235,477.65. This represents a 8.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,590,940 shares of company stock valued at $97,907,007 in the last 90 days. Company insiders own 1.96% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMR. UBS Group raised their price target on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Citigroup started coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 target price for the company. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Canaccord Genuity Group lifted their target price on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, BNP Paribas Exane started coverage on shares of NuScale Power in a report on Friday, July 25th. They issued a "neutral" rating and a $41.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, NuScale Power has an average rating of "Hold" and a consensus target price of $36.09.

About NuScale Power

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.