MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $96.88 Million Stock Position in NuScale Power Corporation $SMR

Key Points

• Mirae Asset Global ETFs Holdings Ltd. increased its ownership in NuScale Power Corporation by 20.3%, acquiring an additional 1,153,158 shares, bringing their total shares to 6,841,836, valued at approximately $96.9 million.
• Institutional investors control 78.37% of NuScale Power's stock, with significant increases from various firms including a 31.9% boost by Cambridge Investment Research Advisors.
• NuScale Power's shares received mixed analyst ratings, with Canaccord Genuity Group raising its price target from $44.00 to $60.00 while maintaining a "buy" rating.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 20.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,841,836 shares of the company's stock after acquiring an additional 1,153,158 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.42% of NuScale Power worth $96,880,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in NuScale Power during the 1st quarter worth $27,000. CoreCap Advisors LLC acquired a new stake in shares of NuScale Power in the fourth quarter valued at $33,000. NBC Securities Inc. lifted its holdings in shares of NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after buying an additional 3,309 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of NuScale Power in the first quarter valued at $50,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of NuScale Power in the first quarter valued at $141,000. Institutional investors and hedge funds own 78.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SMR. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a "neutral" rating in a report on Tuesday, May 20th. Northland Capmk raised NuScale Power to a "hold" rating in a report on Monday, July 7th. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Northland Securities assumed coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price target on the stock. Finally, BNP Paribas Exane assumed coverage on NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.20.

NuScale Power Stock Performance

Shares of NYSE SMR traded down $0.10 during mid-day trading on Wednesday, reaching $35.24. 7,244,405 shares of the company traded hands, compared to its average volume of 11,729,255. The stock has a market cap of $10.04 billion, a PE ratio of -29.61 and a beta of 2.03. The company's fifty day moving average is $40.13 and its two-hundred day moving average is $28.83. NuScale Power Corporation has a fifty-two week low of $8.15 and a fifty-two week high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $8.05 million for 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%. Research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Transactions at NuScale Power

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