NuScale Power Corporation $SMR Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in NuScale Power Corporation by 7.1%, owning about 0.30% of the company, valued at approximately $12.14 million.
• NuScale Power's shares have fluctuated significantly with a fifty-two week high of $53.50 and a low of $6.88, currently trading at $36.18.
• The company reported a loss in its latest earnings announcement, with an earnings per share of ($0.13), missing estimates, alongside a revenue of $8.05 million against a forecast of $10.49 million.

Northern Trust Corp increased its stake in NuScale Power Corporation (NYSE:SMR - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 857,728 shares of the company's stock after buying an additional 56,535 shares during the quarter. Northern Trust Corp owned about 0.30% of NuScale Power worth $12,145,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CoreCap Advisors LLC acquired a new position in shares of NuScale Power in the 4th quarter worth approximately $33,000. NBC Securities Inc. increased its position in shares of NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after purchasing an additional 3,309 shares during the period. Stone House Investment Management LLC acquired a new position in shares of NuScale Power during the 1st quarter valued at $50,000. N.E.W. Advisory Services LLC acquired a new position in shares of NuScale Power during the 1st quarter valued at $141,000. Finally, Rakuten Securities Inc. grew its holdings in shares of NuScale Power by 36.4% in the 1st quarter. Rakuten Securities Inc. now owns 10,213 shares of the company's stock worth $145,000 after acquiring an additional 2,723 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Price Performance

Shares of NYSE:SMR opened at $36.18 on Friday. NuScale Power Corporation has a fifty-two week low of $6.88 and a fifty-two week high of $53.50. The business has a 50-day moving average of $40.34 and a two-hundred day moving average of $28.49. The stock has a market capitalization of $10.31 billion, a P/E ratio of -30.40 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The business had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. As a group, research analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday. Northland Securities started coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective for the company. BNP Paribas raised NuScale Power to a "hold" rating in a research report on Friday, July 25th. Citigroup initiated coverage on NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective for the company. Finally, CLSA set a $41.00 price target on NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $36.20.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares in the company, valued at $1,647,211.97. This represents a 39.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 90,864 shares of the company's stock, valued at approximately $4,033,452.96. This trade represents a 16.69% decrease in their position. The disclosure for this sale can be found here. 1.27% of the stock is owned by corporate insiders.

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.

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