NuScale Power Corporation $SMR Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in NuScale by 72.3% during Q2 to 91,362 shares worth about $3.61 million, and institutional investors now own roughly 78.37% of the stock.
• Large quarterly miss: NuScale reported EPS of ($1.85) vs. ($0.11) expected and revenue of $8.24M (below the $11.29M consensus), alongside deeply negative margins and return on equity.
• Significant insider selling: A Fluor director sold 2,372,563 shares for about $104.37M, and insiders have sold 15,030,641 shares (~$605.95M) in the past three months, leaving insiders with 1.96% ownership.

Intech Investment Management LLC lifted its stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 72.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,362 shares of the company's stock after acquiring an additional 38,347 shares during the quarter. Intech Investment Management LLC's holdings in NuScale Power were worth $3,614,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after acquiring an additional 359 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after purchasing an additional 203 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of NuScale Power during the 2nd quarter valued at $61,000. Toth Financial Advisory Corp increased its position in NuScale Power by 185.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company's stock worth $68,000 after purchasing an additional 1,110 shares during the last quarter. Finally, IFP Advisors Inc raised its position in NuScale Power by 55.7% during the second quarter. IFP Advisors Inc now owns 1,745 shares of the company's stock valued at $69,000 after acquiring an additional 624 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Price Performance

SMR stock opened at $21.57 on Wednesday. The company has a 50 day moving average price of $37.58 and a 200 day moving average price of $36.59. NuScale Power Corporation has a fifty-two week low of $11.08 and a fifty-two week high of $57.42. The stock has a market capitalization of $6.44 billion, a PE ratio of -7.54 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. During the same period in the prior year, the firm posted ($0.18) earnings per share. The business's revenue for the quarter was up 1635.2% compared to the same quarter last year. As a group, equities analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SMR has been the subject of a number of recent analyst reports. BNP Paribas Exane cut NuScale Power from a "neutral" rating to an "underperform" rating in a research report on Tuesday, October 21st. Wall Street Zen downgraded NuScale Power from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. Cantor Fitzgerald began coverage on NuScale Power in a report on Tuesday, October 21st. They issued an "overweight" rating and a $55.00 price target for the company. Bank of America reissued an "underperform" rating and set a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. Finally, Zacks Research lowered NuScale Power from a "hold" rating to a "strong sell" rating in a research note on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, NuScale Power has an average rating of "Reduce" and a consensus price target of $37.50.

Insider Activity

In other news, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director owned 10,085,344 shares of the company's stock, valued at $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 15,030,641 shares of company stock valued at $605,953,415. 1.96% of the stock is currently owned by insiders.

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.

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