Headlands Technologies LLC boosted its holdings in NuScale Power Corporation (NYSE:SMR - Free Report) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,520 shares of the company's stock after purchasing an additional 31,211 shares during the period. Headlands Technologies LLC owned approximately 0.07% of NuScale Power worth $2,811,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in NuScale Power by 6.1% in the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock worth $126,598,000 after purchasing an additional 512,618 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NuScale Power by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company's stock worth $101,998,000 after purchasing an additional 89,949 shares during the last quarter. Samsung C&T Corp bought a new stake in NuScale Power in the fourth quarter worth $46,745,000. Geode Capital Management LLC lifted its stake in NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock worth $35,249,000 after purchasing an additional 135,613 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power during the first quarter valued at about $14,271,000. 78.37% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently commented on SMR. The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. BNP Paribas Exane began coverage on shares of NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 price objective for the company. Finally, UBS Group upped their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $33.00.
Check Out Our Latest Stock Report on NuScale Power
NuScale Power Price Performance
SMR stock traded down $5.19 during trading on Friday, reaching $39.49. The company had a trading volume of 21,633,175 shares, compared to its average volume of 14,126,357. NuScale Power Corporation has a 52 week low of $6.88 and a 52 week high of $53.50. The company has a market cap of $11.23 billion, a P/E ratio of -33.18 and a beta of 2.06. The business has a 50 day moving average of $40.81 and a 200 day moving average of $26.99.
NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). NuScale Power had a positive return on equity of 2.86% and a negative net margin of 221.07%. The company had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. Research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.
Insider Transactions at NuScale Power
In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the sale, the chief operating officer owned 90,864 shares in the company, valued at approximately $4,033,452.96. This represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The disclosure for this sale can be found here. 1.27% of the stock is owned by corporate insiders.
NuScale Power Company Profile
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Free Report)
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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