KLP Kapitalforvaltning AS Increases Stake in NuScale Power Corporation (NYSE:SMR)

Key Points

• KLP Kapitalforvaltning AS increased its stake in NuScale Power Corporation by 27.1% during the first quarter, owning 27,200 shares valued at $385,000.
• Insider trading reports indicate that both VP Jacqueline F. Engel and CEO John Lawrence Hopkins significantly reduced their holdings, with Engel's shares decreasing by 56.23% and Hopkins by 41.43%.
• Analysts have mixed reviews on NuScale Power, with a consensus rating of "Hold" and a price target ranging from $33.00 to $46.00.

KLP Kapitalforvaltning AS increased its position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 27.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,200 shares of the company's stock after purchasing an additional 5,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in NuScale Power were worth $385,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Samsung C&T Corp bought a new position in shares of NuScale Power in the fourth quarter worth about $46,745,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of NuScale Power during the 4th quarter worth approximately $22,823,000. Vanguard Group Inc. grew its position in shares of NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock worth $151,113,000 after buying an additional 635,271 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of NuScale Power during the 4th quarter worth approximately $7,628,000. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of NuScale Power during the 1st quarter worth approximately $5,938,000. Institutional investors and hedge funds own 78.37% of the company's stock.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was 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 the SEC website. Also, insider Clayton Scott sold 10,019 shares of NuScale Power stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,278 shares of company stock valued at $1,786,990. 1.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SMR has been the subject of a number of analyst reports. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. BNP Paribas raised shares of NuScale Power to a "hold" rating in a research note on Friday, July 25th. Finally, Northland Securities initiated coverage on shares of NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $33.00.

NuScale Power Stock Down 0.6%

Shares of SMR stock traded down $0.31 on Thursday, reaching $50.20. The company had a trading volume of 12,475,304 shares, compared to its average volume of 11,359,791. The business's 50-day moving average is $39.49 and its 200 day moving average is $26.07. The stock has a market capitalization of $14.28 billion, a PE ratio of -36.64 and a beta of 2.04. NuScale Power Corporation has a one year low of $6.88 and a one year high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last released its 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 business 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, sell-side analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

NuScale Power Company 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.