MFG Wealth Management Inc. Makes New Investment in NuScale Power Corporation $SMR

Key Points

• MFG Wealth Management Inc. has made a new investment in NuScale Power Corporation, acquiring 46,231 shares valued at approximately $1,829,000 during the second quarter.
• In recent insider activity, CFO Robert Ramsey Hamady sold 30,641 shares, marking a 39.83% decrease in his ownership, while COO Carl M. Fisher sold 18,206 shares, reducing his ownership by 16.69%.
• Analysts have set a target price for NuScale Power stock between $36.00 and $41.00, with a current average rating of "Hold" and recent stock performance showing a 7.5% increase.

MFG Wealth Management Inc. purchased a new position in NuScale Power Corporation (NYSE:SMR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 46,231 shares of the company's stock, valued at approximately $1,829,000.

A number of other institutional investors have also recently bought and sold shares of SMR. Quantbot Technologies LP purchased a new position in NuScale Power in the 1st quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after purchasing an additional 359 shares in the last quarter. NBC Securities Inc. increased its stake in NuScale Power by 165,450.0% in the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. Stone House Investment Management LLC purchased a new position in NuScale Power in the 1st quarter worth about $50,000. Finally, Geneos Wealth Management Inc. purchased a new position in NuScale Power in the 1st quarter worth about $60,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

Insiders Place Their Bets

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,647,211.97. This represents a 39.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the completion of the sale, the chief operating officer owned 90,864 shares in the company, valued at $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Bank of America assumed coverage on NuScale Power in a research note on Thursday, August 21st. They set a "neutral" rating and a $36.00 target price on the stock. BNP Paribas raised NuScale Power to a "hold" rating in a research note on Friday, July 25th. BNP Paribas Exane assumed coverage on NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 target price on the stock. Finally, BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $36.09.

NuScale Power Stock Up 7.5%

Shares of SMR stock opened at $39.06 on Tuesday. The stock has a 50 day moving average of $40.14 and a 200-day moving average of $29.43. The firm has a market cap of $11.13 billion, a PE ratio of -32.82 and a beta of 2.03. NuScale Power Corporation has a 12 month low of $8.80 and a 12 month high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last issued its 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). 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%. As a group, equities analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal 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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