Foundations Investment Advisors LLC Acquires Shares of 34,060 NuScale Power Corporation $SMR

Key Points

• Foundations Investment Advisors bought a new Q2 position of 34,060 shares (≈$1.35M) in NuScale Power (NYSE:SMR), joining other big institutional moves as UBS, Mirae, Geode and Vanguard increased stakes and institutions now own about 78.37% of the stock.
• Insiders have been heavy sellers recently: Director Corp Fluor sold 2,372,563 shares (~$104.4M) and insiders sold 15,030,641 shares (~$606M) in the last quarter, leaving insiders with roughly 1.96% ownership.
• Fundamentals and sentiment look weak — SMR shares traded near $21 (down 6.4%), the company missed quarterly EPS and showed large negative margins, and analysts’ consensus rating is "Reduce" with an average target of $37.50.

Foundations Investment Advisors LLC bought a new position in NuScale Power Corporation (NYSE:SMR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 34,060 shares of the company's stock, valued at approximately $1,347,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NuScale Power by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock worth $96,880,000 after buying an additional 1,153,158 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power in the first quarter worth approximately $14,271,000. Geode Capital Management LLC lifted its stake in shares of NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company's stock worth $112,944,000 after buying an additional 574,295 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 buying an additional 512,618 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director 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 SEC, which is accessible through the SEC website. Insiders sold 15,030,641 shares of company stock worth $605,953,415 in the last quarter. 1.96% of the stock is currently owned by insiders.

NuScale Power Trading Down 6.4%

Shares of NYSE SMR opened at $21.01 on Tuesday. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $57.42. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of -7.35 and a beta of 2.03. The firm has a 50 day moving average of $37.85 and a 200 day moving average of $36.56.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business had revenue of $8.24 million for the quarter, compared to analysts' expectations of $11.29 million. During the same quarter in the prior year, the business earned ($0.18) EPS. The company's revenue was up 1635.2% compared to the same quarter last year. Sell-side analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SMR shares. Citigroup restated a "sell" rating and issued a $37.50 price objective (down from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. Bank of America restated an "underperform" rating and issued a $34.00 price target (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Zacks Research cut NuScale Power from a "hold" rating to a "strong sell" rating in a research report on Wednesday, November 12th. Royal Bank Of Canada decreased their target price on NuScale Power from $35.00 to $32.00 and set a "sector perform" rating for the company in a research report on Monday, November 10th. Finally, Canaccord Genuity Group raised their price target 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. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $37.50.

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.

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