MRA Advisory Group Purchases New Position in NuScale Power Corporation $SMR

Key Points

• MRA Advisory Group acquired a new stake in NuScale Power Corporation, purchasing 8,036 shares valued at approximately $318,000 during the 2nd quarter.
• Insider sales were reported with COO Carl M. Fisher selling 18,206 shares and CFO Robert Ramsey Hamady selling 30,641 shares, reflecting significant decreases in their holdings.
• NuScale Power's recent quarterly earnings showed a loss of ($0.13) per share, missing the consensus estimate, and the company reported revenues of $8.05 million, below expectations.

MRA Advisory Group purchased a new stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 8,036 shares of the company's stock, valued at approximately $318,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Kaizen Financial Strategies acquired a new stake in NuScale Power in the first quarter valued at approximately $204,000. Cambridge Investment Research Advisors Inc. boosted its position in NuScale Power by 31.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock valued at $2,734,000 after buying an additional 46,744 shares in the last quarter. California State Teachers Retirement System boosted its position in NuScale Power by 17.9% in the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock valued at $1,429,000 after buying an additional 12,070 shares in the last quarter. Ameriprise Financial Inc. boosted its position in NuScale Power by 34.1% in the fourth quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock valued at $943,000 after buying an additional 13,373 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after buying an additional 833 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

Insiders Place Their Bets

In related news, COO Carl M. Fisher sold 18,206 shares of NuScale Power stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the transaction, the chief operating officer owned 90,864 shares of the company's stock, valued at $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of NuScale Power stock in a transaction on 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 directly owned 46,283 shares of the company's stock, valued at $1,647,211.97. This represents a 39.83% decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SMR shares. Citigroup started coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 target price on the stock. CLSA set a $41.00 target price on shares of NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. UBS Group raised their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Finally, Northland Securities started coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 price target for the company. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, NuScale Power presently has a consensus rating of "Hold" and a consensus target price of $36.20.

NuScale Power Stock Performance

SMR stock opened at $36.17 on Monday. The company has a fifty day moving average price of $40.10 and a 200-day moving average price of $29.28. The company has a market capitalization of $10.30 billion, a P/E ratio of -30.39 and a beta of 2.03. NuScale Power Corporation has a 52-week low of $8.80 and a 52-week high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $8.05 million for the quarter, compared to the consensus estimate 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, sell-side analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

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.

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