Avantax Advisory Services Inc. Purchases 14,838 Shares of NuScale Power Corporation (NYSE:SMR)

Avantax Advisory Services Inc. boosted its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 93.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,666 shares of the company's stock after buying an additional 14,838 shares during the quarter. Avantax Advisory Services Inc.'s holdings in NuScale Power were worth $434,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SMR. Sei Investments Co. acquired a new stake in NuScale Power in the 4th quarter valued at $552,000. LPL Financial LLC increased its holdings in shares of NuScale Power by 69.3% in the fourth quarter. LPL Financial LLC now owns 201,296 shares of the company's stock valued at $3,609,000 after purchasing an additional 82,363 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of NuScale Power during the fourth quarter worth $182,000. Geode Capital Management LLC lifted its position in NuScale Power by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock valued at $35,249,000 after purchasing an additional 135,613 shares during the period. Finally, Federated Hermes Inc. boosted its stake in NuScale Power by 994.0% in the fourth quarter. Federated Hermes Inc. now owns 25,272 shares of the company's stock valued at $453,000 after acquiring an additional 22,962 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NuScale Power

In related news, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the completion of the sale, the chief operating officer directly owned 90,864 shares in the company, valued at approximately $4,033,452.96. This trade represents a 16.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SMR shares. Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the company a "buy" rating in a research note on Thursday, May 29th. BNP Paribas raised NuScale Power to a "hold" rating in a research note on Friday, July 25th. BNP Paribas Exane assumed coverage on NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price target on the stock. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Finally, Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Eight analysts have rated the stock with a hold rating and three have issued a buy 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 $33.00.

NuScale Power Trading Down 11.6%

Shares of NuScale Power stock traded down $5.19 during trading hours on Friday, reaching $39.49. 21,633,175 shares of the company's stock were exchanged, compared to its average volume of 11,611,636. The company has a 50 day moving average of $40.67 and a two-hundred day moving average of $26.89. The stock has a market cap of $11.23 billion, a P/E ratio of -28.82 and a beta of 2.06. NuScale Power Corporation has a fifty-two week low of $6.88 and a fifty-two week high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. As a group, analysts expect 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.