NuScale Power Corporation (NYSE:SMR) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 258,626 shares of the company's stock after purchasing an additional 12,879 shares during the period. Bank of New York Mellon Corp owned about 0.09% of NuScale Power worth $3,662,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Kaizen Financial Strategies bought a new position in shares of NuScale Power during the first quarter worth about $204,000. Raymond James Financial Inc. bought a new position in shares of NuScale Power during the fourth quarter worth about $2,755,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of NuScale Power by 31.9% during the first 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 last quarter. HighTower Advisors LLC lifted its position in shares of NuScale Power by 51.0% during the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after purchasing an additional 6,175 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of NuScale Power by 17.9% during the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock worth $1,429,000 after purchasing an additional 12,070 shares during the last quarter. Institutional investors own 78.37% of the company's stock.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the sale, the insider owned 86,965 shares in the company, valued at $1,459,272.70. The trade was a 10.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,278 shares of company stock worth $1,786,990. 1.27% of the stock is owned by company insiders.

NuScale Power Trading Up 1.3%

Shares of NYSE:SMR opened at $51.69 on Friday. The firm's 50 day moving average is $37.42 and its two-hundred day moving average is $25.27. NuScale Power Corporation has a 52 week low of $6.88 and a 52 week high of $53.39. The firm has a market capitalization of $14.70 billion, a P/E ratio of -37.73 and a beta of 2.04.

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

Analyst Ratings Changes

Several brokerages have recently commented on SMR. CLSA set a $41.00 price target on shares of NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Citigroup started coverage on shares of NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective on the stock. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research note on Friday. Finally, BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $33.00.

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.

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