Kaizen Financial Strategies Acquires New Position in NuScale Power Co. (NYSE:SMR)

Kaizen Financial Strategies acquired a new stake in NuScale Power Co. (NYSE:SMR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,441 shares of the company's stock, valued at approximately $204,000.

A number of other institutional investors have also recently added to or reduced their stakes in SMR. CoreCap Advisors LLC acquired a new stake in shares of NuScale Power in the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC boosted its position in NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. Twin Tree Management LP acquired a new stake in NuScale Power in the fourth quarter valued at $42,000. Amalgamated Bank grew its stake in NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after acquiring an additional 986 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of NuScale Power by 2,980.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after purchasing an additional 3,576 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SMR. 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 note on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. CLSA set a $41.00 target price on shares of NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. BTIG Research reiterated a "buy" rating on shares of NuScale Power in a report on Tuesday, May 13th. Finally, UBS Group raised their price objective on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.00.

NuScale Power Trading Down 3.5%

SMR traded down $1.10 during trading on Wednesday, hitting $30.69. 9,876,239 shares of the company's stock were exchanged, compared to its average volume of 9,144,842. NuScale Power Co. has a 1 year low of $6.61 and a 1 year high of $36.85. The stock has a 50 day moving average price of $19.61 and a 200 day moving average price of $20.86. The firm has a market cap of $8.73 billion, a P/E ratio of -32.31 and a beta of 1.62. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06. The firm had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. As a group, analysts expect that NuScale Power Co. will post -0.73 EPS for the current fiscal year.

Insider Activity

In related news, CEO John Lawrence Hopkins sold 34,675 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the transaction, the chief executive officer now owns 49,019 shares in the company, valued at approximately $833,323. The trade was a 41.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now owns 29,985 shares in the company, valued at $470,764.50. This represents a 51.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,774 shares of company stock worth $2,780,768 over the last 90 days. Company insiders own 1.27% of the company's stock.

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.