Legacy Advisors LLC Makes New $186,000 Investment in NuScale Power Corporation (NYSE:SMR)

Legacy Advisors LLC bought a new position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,140 shares of the company's stock, valued at approximately $186,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMR. Rhumbline Advisers boosted its position in shares of NuScale Power by 9.3% in the 4th quarter. Rhumbline Advisers now owns 111,404 shares of the company's stock valued at $1,997,000 after purchasing an additional 9,485 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of NuScale Power during the fourth quarter worth $303,000. Truist Financial Corp raised its stake in shares of NuScale Power by 52.5% in the 4th quarter. Truist Financial Corp now owns 26,140 shares of the company's stock valued at $469,000 after purchasing an additional 9,000 shares during the period. 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 during the period. Finally, New York State Common Retirement Fund grew its position in NuScale Power by 8.5% during the fourth quarter. New York State Common Retirement Fund now owns 24,172 shares of the company's stock worth $433,000 after buying an additional 1,900 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 1,565 shares of NuScale Power stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the sale, the vice president now owns 1,218 shares in the company, valued at $20,632.92. The trade was a 56.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Lawrence Hopkins sold 34,675 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $17.00, for a total transaction of $589,475.00. Following the transaction, the chief executive officer now owns 49,019 shares in the company, valued at $833,323. The trade was a 41.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,278 shares of company stock worth $2,286,280 over the last three months. 1.27% of the stock is owned by company insiders.

NuScale Power Stock Down 1.0%

SMR traded down $0.38 during midday trading on Thursday, hitting $38.29. 9,808,060 shares of the company were exchanged, compared to its average volume of 9,782,580. The firm's 50 day moving average price is $26.99 and its 200-day moving average price is $22.08. NuScale Power Corporation has a 1-year low of $6.88 and a 1-year high of $45.31. The firm has a market capitalization of $10.89 billion, a P/E ratio of -27.95 and a beta of 2.00.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analysts' expectations of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. On average, sell-side analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SMR. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Citigroup began coverage on shares of NuScale Power in a research report on Monday. They set a "neutral" rating and a $46.00 price objective for the company. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Finally, Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.38.

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.