Goldman Sachs Group Inc. Sells 1,163,078 Shares of NuScale Power Corporation $SMR

Goldman Sachs Group Inc. trimmed its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 71.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 468,840 shares of the company's stock after selling 1,163,078 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.16% of NuScale Power worth $6,639,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SMR. Quantbot Technologies LP acquired a new position in NuScale Power during the first quarter valued at $27,000. NBC Securities Inc. grew its stake in NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after acquiring an additional 3,309 shares in the last quarter. Stone House Investment Management LLC acquired a new position in NuScale Power in the 1st quarter valued at about $50,000. Geneos Wealth Management Inc. acquired a new position in shares of NuScale Power in the 1st quarter worth approximately $60,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in NuScale Power during the 1st quarter worth approximately $141,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research note on Friday, July 25th. Citigroup initiated coverage on shares of NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 target price for the company. The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Finally, Northland Securities began 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 objective for the company. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $36.20.

NuScale Power Stock Up 2.8%

Shares of SMR stock opened at $36.17 on Monday. NuScale Power Corporation has a 12 month low of $8.80 and a 12 month high of $53.50. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of -30.39 and a beta of 2.03. The stock has a 50-day moving average price of $40.10 and a 200 day moving average price of $29.28.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data 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 business 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%. Sell-side analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of the business's stock in a transaction 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 directly owned 46,283 shares in the company, valued at $1,647,211.97. The trade was a 39.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total value of $808,164.34. Following the transaction, the chief operating officer owned 90,864 shares of the company's stock, valued at $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.96% of the company's stock.

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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