NuScale Power Corporation (NYSE:SMR) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 51.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,070 shares of the company's stock after selling 59,530 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in NuScale Power were worth $839,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SMR. Vanguard Group Inc. grew its stake in NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock valued at $151,113,000 after purchasing an additional 635,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NuScale Power by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company's stock valued at $101,998,000 after purchasing an additional 89,949 shares during the last quarter. Samsung C&T Corp purchased a new position in NuScale Power in the fourth quarter valued at about $46,745,000. Geode Capital Management LLC grew its stake in NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock valued at $35,249,000 after purchasing an additional 135,613 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in NuScale Power in the fourth quarter valued at about $22,823,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Stock Performance

Shares of NYSE SMR traded up $0.94 during mid-day trading on Monday, reaching $36.82. 6,894,236 shares of the company's stock were exchanged, compared to its average volume of 9,888,093. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of -26.88 and a beta of 2.04. NuScale Power Corporation has a 52-week low of $6.88 and a 52-week high of $45.31. The company's 50-day moving average is $30.45 and its 200-day moving average is $22.98.

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 analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The company had revenue of $13.38 million during the quarter, compared to analysts' expectations of $1.46 million. As a group, equities analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the sale, the vice president owned 1,218 shares of the company's stock, valued at $20,632.92. This trade represents a 56.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Lawrence Hopkins sold 34,675 shares of the firm'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 sale, the chief executive officer directly owned 49,019 shares in the company, valued at $833,323. This trade represents a 41.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,278 shares of company stock worth $1,786,990 in the last three months. 1.96% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SMR. UBS Group boosted their price target on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Northland Securities initiated coverage on NuScale Power in a research report on Monday. They issued a "market perform" rating and a $35.00 target price on the stock. Citigroup started coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target on the stock. Finally, BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

NuScale Power 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.