Allspring Global Investments Holdings LLC Boosts Stake in NuScale Power Corporation (NYSE:SMR)

Allspring Global Investments Holdings LLC lifted its stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 58.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,736 shares of the company's stock after purchasing an additional 49,998 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in NuScale Power were worth $1,987,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of NuScale Power by 18.4% in the fourth quarter. Bank of New York Mellon Corp now owns 245,747 shares of the company's stock valued at $4,406,000 after buying an additional 38,239 shares in the last quarter. US Bancorp DE raised its holdings in shares of NuScale Power by 77.6% in the 4th quarter. US Bancorp DE now owns 8,247 shares of the company's stock worth $148,000 after purchasing an additional 3,604 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of NuScale Power by 672.3% in the 4th quarter. Jones Financial Companies Lllp now owns 15,399 shares of the company's stock worth $276,000 after purchasing an additional 13,405 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of NuScale Power during the 4th quarter valued at about $97,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NuScale Power by 8.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 735,383 shares of the company's stock valued at $13,185,000 after buying an additional 58,135 shares during the period. Hedge funds and other institutional investors own 78.37% of the company's stock.

Insiders Place Their Bets

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 1,565 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president owned 1,218 shares in the company, valued at $20,632.92. The trade was a 56.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,278 shares of company stock valued at $1,786,990. Company insiders own 1.27% of the company's stock.

NuScale Power Trading Up 4.4%

Shares of SMR traded up $1.58 during trading hours on Friday, reaching $37.60. 10,625,877 shares of the stock traded hands, compared to its average volume of 9,911,959. The company has a market cap of $10.69 billion, a price-to-earnings ratio of -27.45 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 stock has a fifty day simple moving average of $31.56 and a 200 day simple moving average of $23.26.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SMR shares. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. UBS Group lifted their price target on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. Northland Securities started coverage on shares of NuScale Power in a research note on Monday. They issued a "market perform" rating and a $35.00 target price for the company. Finally, Citigroup initiated coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $32.00.

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.