HighTower Advisors LLC Grows Stock Holdings in NuScale Power Corporation $SMR

Key Points

• HighTower Advisors LLC increased its stake in NuScale Power Corporation by 137.7%, acquiring an additional 25,174 shares to hold a total of 43,457 shares valued at approximately $615,000.
• Various institutional investors have shown interest in NuScale Power, with 78.37% of the company’s stock owned by institutional shareholders, including notable increases from CloudAlpha Capital Management and Vanguard Group Inc.
• NuScale Power reported a quarterly loss of ($0.13) EPS, which fell short of analysts' expectations, along with a revenue of $8.05 million for the quarter, below the consensus estimate of $10.49 million.

HighTower Advisors LLC increased its stake in NuScale Power Corporation (NYSE:SMR - Free Report) by 137.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,457 shares of the company's stock after purchasing an additional 25,174 shares during the quarter. HighTower Advisors LLC's holdings in NuScale Power were worth $615,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power during the 1st quarter valued at $14,271,000. Vanguard Group Inc. increased its position in 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 acquiring an additional 512,618 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in NuScale Power in the fourth quarter valued at about $7,628,000. TB Alternative Assets Ltd. purchased a new position in NuScale Power in the first quarter worth about $5,938,000. Finally, BNP Paribas Financial Markets purchased a new position in NuScale Power in the fourth quarter worth about $4,273,000. Institutional investors own 78.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMR. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Bank of America started coverage on shares of NuScale Power in a research note on Thursday, August 21st. They set a "neutral" rating and a $36.00 price target on the stock. Northland Securities assumed coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective for the company. Finally, BNP Paribas raised NuScale Power to a "hold" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of "Hold" and an average target price of $34.60.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the sale, the chief financial officer owned 46,283 shares of the company's stock, valued at approximately $1,647,211.97. This trade represents a 39.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total value of $808,164.34. Following the completion of the transaction, the chief operating officer owned 90,864 shares of the company's stock, valued at $4,033,452.96. The trade was a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by company insiders.

NuScale Power Stock Performance

SMR opened at $34.62 on Friday. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of -29.09 and a beta of 2.06. The firm's fifty day moving average is $40.51 and its 200 day moving average is $28.14. NuScale Power Corporation has a fifty-two week low of $6.88 and a fifty-two week high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $10.49 million. On average, equities research analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

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.

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