Mirae Asset Global Investments Co. Ltd. Has $11.85 Million Stock Holdings in NuScale Power Corporation $SMR

Key Points

• Mirae Asset Global Investments significantly increased its stake in NuScale Power Corporation by 434.4% during the 2nd quarter, owning 299,640 shares worth approximately $11.85 million.
• Recent analyst ratings show a mixed sentiment, with three analysts rating the stock as a "Buy," ten as "Hold," and two as "Sell," alongside an average price target of $36.67.
• Insider selling has been substantial, with a director selling over 532,000 shares for approximately $19.44 million, reflecting a 13.45% reduction in their holding.

Mirae Asset Global Investments Co. Ltd. grew its position in NuScale Power Corporation (NYSE:SMR - Free Report) by 434.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 299,640 shares of the company's stock after purchasing an additional 243,570 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of NuScale Power worth $11,854,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after purchasing an additional 359 shares in the last quarter. Union Bancaire Privee UBP SA boosted its stake in shares of NuScale Power by 9.1% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company's stock valued at $182,000 after purchasing an additional 386 shares in the last quarter. Albion Financial Group UT boosted its stake in shares of NuScale Power by 26.2% in the 2nd quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock valued at $81,000 after purchasing an additional 425 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of NuScale Power by 0.9% in the 1st quarter. Deutsche Bank AG now owns 76,082 shares of the company's stock valued at $1,077,000 after purchasing an additional 686 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of NuScale Power by 6.9% in the 1st quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after purchasing an additional 833 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of NuScale Power in a research note on Monday, September 15th. They issued a "sector perform" rating and a $35.00 target price on the stock. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research report on Friday, July 25th. BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. BNP Paribas Exane initiated coverage on shares of NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price target on the stock. Finally, Canaccord Genuity Group upped their price target on shares of NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $36.67.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 532,354 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $36.52, for a total transaction of $19,441,568.08. Following the completion of the sale, the director directly owned 3,424,278 shares of the company's stock, valued at approximately $125,054,632.56. The trade was a 13.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 11,624,569 shares of company stock worth $468,599,880. Insiders own 1.27% of the company's stock.

NuScale Power Stock Up 1.3%

Shares of NYSE SMR opened at $40.03 on Friday. The company has a market cap of $11.40 billion, a price-to-earnings ratio of -33.64 and a beta of 2.02. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $53.50. The firm's 50-day simple moving average is $38.88 and its 200 day simple moving average is $31.56.

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 for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. On average, equities analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.

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.

Want to see what other hedge funds are holding SMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NuScale Power Corporation (NYSE:SMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.