N.E.W. Advisory Services LLC Buys Shares of 9,989 NuScale Power Corporation (NYSE:SMR)

Key Points

• N.E.W. Advisory Services LLC has acquired a new position in NuScale Power Corporation, purchasing 9,989 shares worth approximately $141,000 in the first quarter of this year.
• Despite recent earnings data indicating a negative net margin of 273.36%, NuScale Power exceeded revenue expectations with $13.38 million during the quarter.
• Analysts have mixed ratings on NuScale Power, with an average rating of "Hold" and a consensus target price of $33.00 for the stock.

N.E.W. Advisory Services LLC purchased a new stake in NuScale Power Corporation (NYSE:SMR - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,989 shares of the company's stock, valued at approximately $141,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMR. Kaizen Financial Strategies acquired a new stake in shares of NuScale Power in the first quarter valued at about $204,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of NuScale Power by 31.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock worth $2,734,000 after purchasing an additional 46,744 shares during the period. HighTower Advisors LLC lifted its position in NuScale Power by 51.0% during the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock valued at $328,000 after buying an additional 6,175 shares in the last quarter. California State Teachers Retirement System raised 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 purchasing an additional 12,070 shares during the period. Finally, Geode Capital Management LLC grew its position 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 acquiring an additional 135,613 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SMR. BNP Paribas Exane initiated coverage on NuScale Power in a report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price target for the company. Northland Securities started coverage on NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price for the company. Citigroup began coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective on the stock. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research report on Friday, July 25th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $33.00.

NuScale Power Price Performance

SMR traded up $1.51 during midday trading on Wednesday, hitting $50.48. 10,404,941 shares of the company's stock traded hands, compared to its average volume of 11,246,874. NuScale Power Corporation has a one year low of $6.88 and a one year high of $53.50. The stock's fifty day simple moving average is $38.99 and its 200-day simple moving average is $25.85. The company has a market cap of $14.36 billion, a PE ratio of -36.85 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. The firm had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. On average, research analysts expect that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, CEO John Lawrence Hopkins sold 34,675 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the completion of the transaction, the chief executive officer directly owned 49,019 shares in the company, valued at $833,323. This represents a 41.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Clayton Scott sold 10,019 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.78, for a total value of $168,118.82. Following the completion of the transaction, the insider directly owned 86,965 shares in the company, valued at $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,278 shares of company stock valued at $1,786,990 over the last quarter. Corporate insiders own 1.27% of the company's stock.

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.