Exchange Traded Concepts LLC Grows Stake in NuScale Power Corporation $SMR

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 boosted its holdings in NuScale Power Corporation (NYSE:SMR - Free Report) by 35.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 334,898 shares of the company's stock after acquiring an additional 87,477 shares during the quarter. Exchange Traded Concepts LLC owned 0.12% of NuScale Power worth $13,249,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in NuScale Power by 84.5% in the 2nd 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. Quantbot Technologies LP bought a new position in NuScale Power in the 1st quarter worth about $27,000. NBC Securities Inc. boosted its holdings in shares of NuScale Power by 165,450.0% in the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of NuScale Power in the 1st quarter worth about $50,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of NuScale Power in the 1st quarter worth about $60,000. 78.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NuScale Power news, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,647,211.97. This trade represents a 39.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Corp Fluor sold 1,193,504 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $38.95, for a total value of $46,486,980.80. Following the completion of the sale, the director owned 12,457,907 shares of the company's stock, valued at approximately $485,235,477.65. This trade represents a 8.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,590,940 shares of company stock worth $97,907,007. 1.27% of the stock is currently owned by company insiders.

NuScale Power Stock Performance

SMR traded up $8.40 on Friday, hitting $46.52. 51,875,326 shares of the company were exchanged, compared to its average volume of 14,298,589. The firm has a fifty day simple moving average of $40.42 and a two-hundred day simple moving average of $29.89. NuScale Power Corporation has a 12 month low of $9.71 and a 12 month high of $53.50. The stock has a market capitalization of $13.25 billion, a PE ratio of -39.09 and a beta of 2.03.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SMR shares. CLSA set a $41.00 price objective on NuScale Power and gave the stock an "outperform" rating in a report on Tuesday, May 27th. Bank of America started coverage on NuScale Power in a report on Thursday, August 21st. They issued a "neutral" rating and a $36.00 price objective for the company. Northland Capmk upgraded NuScale Power to a "hold" rating in a report on Monday, July 7th. Citigroup started coverage on NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective for the company. Finally, UBS Group upped their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.09.

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.