Janney Montgomery Scott LLC Decreases Position in NuScale Power Corporation $SMR

Key Points

• Janney Montgomery Scott LLC has reduced its holdings in NuScale Power Corporation by 32.8%, now owning 57,001 shares worth approximately $2.26 million.
• Several institutional investors have increased their positions or entered new stakes in NuScale Power, with 78.37% of the stock now owned by these entities.
• NuScale Power reported a quarterly loss with an earnings per share of ($0.13), missing the consensus estimate, while its net margin is significantly negative at -221.07%.

Janney Montgomery Scott LLC lowered its stake in NuScale Power Corporation (NYSE:SMR - Free Report) by 32.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,001 shares of the company's stock after selling 27,777 shares during the quarter. Janney Montgomery Scott LLC's holdings in NuScale Power were worth $2,255,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMR. Albion Financial Group UT increased its stake in shares of NuScale Power by 26.2% in the second quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock worth $81,000 after buying an additional 425 shares during the last quarter. Cox Capital Mgt LLC acquired a new position in NuScale Power during the 2nd quarter worth $287,000. Cadent Capital Advisors LLC increased its position in shares of NuScale Power by 30.5% in the 2nd quarter. Cadent Capital Advisors LLC now owns 29,963 shares of the company's stock worth $1,185,000 after purchasing an additional 7,000 shares during the last quarter. Financial Management Professionals Inc. raised its stake in shares of NuScale Power by 514.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 3,219 shares of the company's stock valued at $127,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Sheets Smith Wealth Management acquired a new stake in shares of NuScale Power in the 2nd quarter valued at about $325,000. 78.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on SMR. Northland Securities began coverage on NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective on the stock. Canaccord Genuity Group boosted their price target on NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Bank of America restated an "underperform" rating and set a $34.00 price objective (down from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Barclays initiated coverage on shares of NuScale Power in a report on Monday, September 29th. They issued an "equal weight" rating and a $45.00 price objective for the company. Finally, UBS Group increased their target price on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.67.

NuScale Power Trading Down 3.3%

Shares of NYSE:SMR opened at $39.29 on Friday. The company has a 50 day moving average of $37.96 and a 200-day moving average of $32.21. The firm has a market cap of $11.19 billion, a P/E ratio of -33.02 and a beta of 2.02. NuScale Power Corporation has a twelve month low of $11.08 and a twelve month high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last announced 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 firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Equities research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction on 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 sale, the director directly owned 10,085,344 shares of the company's stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 15,048,847 shares of company stock worth $606,761,579. Company insiders own 1.27% of the company's stock.

About NuScale Power

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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