NuScale Power Corporation $SMR Stock Position Lowered by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. has cut its holdings in NuScale Power Corporation by 50%, owning 212,716 shares worth approximately $3 million after selling 212,715 shares in the first quarter.
• Several institutional investors, including Price T Rowe Associates and Ameriprise Financial, have increased their stakes in NuScale Power, with institutional investors collectively owning 78.37% of the stock.
• Analysts have set varied price targets for NuScale Power, with a current consensus target price of $36.20, where Goldman Sachs assigns a "neutral" rating and a target at $24, while Citigroup sets a slightly higher target of $46.

Alyeska Investment Group L.P. reduced its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 50.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,716 shares of the company's stock after selling 212,715 shares during the period. Alyeska Investment Group L.P. owned approximately 0.08% of NuScale Power worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in NuScale Power in the first quarter valued at approximately $27,000. CoreCap Advisors LLC acquired a new stake in NuScale Power in the 4th quarter valued at $33,000. NBC Securities Inc. increased its stake in shares of NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of NuScale Power in the first quarter valued at approximately $50,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in NuScale Power during the 1st quarter worth $141,000. Institutional investors and hedge funds own 78.37% of the company's stock.

Insider Activity at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total value of $808,164.34. Following the transaction, the chief operating officer directly owned 90,864 shares of the company's stock, valued at $4,033,452.96. This represents a 16.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 46,283 shares in the company, valued at $1,647,211.97. This represents a 39.83% decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SMR. Northland Capmk raised shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Northland Securities assumed coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price target on the stock. BNP Paribas raised NuScale Power to a "hold" rating in a research report on Friday, July 25th. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Finally, Canaccord Genuity Group increased their target price on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $36.20.

NuScale Power Price Performance

SMR stock traded up $1.36 during midday trading on Tuesday, hitting $35.31. The stock had a trading volume of 10,934,948 shares, compared to its average volume of 11,746,599. The company's 50-day moving average price is $40.14 and its 200 day moving average price is $28.79. NuScale Power Corporation has a 12-month low of $7.37 and a 12-month high of $53.50. The firm has a market cap of $10.06 billion, a PE ratio of -29.67 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last issued its 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). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. As a group, sell-side analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

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.