NuScale Power Corporation $SMR Shares Sold by Philip James Wealth Mangement LLC

Key Points

• Philip James Wealth Management LLC reduced its stake in NuScale Power Corporation by 74.3%, selling 85,859 shares and holding 29,630 shares valued at approximately $1.17 million.
• NuScale Power's stock has experienced volatility, reaching a fifty-two week low of $11.08 and a high of $53.50, with an opening price of $36.66.
• Insider selling was significant, with a director selling over 532,000 shares for nearly $19.44 million, reflecting a broader trend of insider transactions in the last ninety days.

Philip James Wealth Mangement LLC trimmed its stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 74.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,630 shares of the company's stock after selling 85,859 shares during the quarter. Philip James Wealth Mangement LLC's holdings in NuScale Power were worth $1,172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMR. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after buying an additional 359 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in NuScale Power by 185.0% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company's stock worth $68,000 after buying an additional 1,110 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in NuScale Power during the 2nd quarter worth about $69,000. Quantbot Technologies LP purchased a new stake in NuScale Power during the 1st quarter worth about $27,000. Finally, Albion Financial Group UT lifted its holdings in NuScale Power by 26.2% during the 2nd quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock worth $81,000 after buying an additional 425 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Stock Performance

NuScale Power stock opened at $36.66 on Thursday. NuScale Power Corporation has a fifty-two week low of $11.08 and a fifty-two week high of $53.50. The company has a market capitalization of $10.44 billion, a P/E ratio of -30.81 and a beta of 2.02. The stock has a 50-day simple moving average of $39.34 and a 200-day simple moving average of $31.16.

NuScale Power (NYSE:SMR - Get Free Report) last posted 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). The firm had revenue of $8.05 million during the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. As a group, analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

SMR has been the subject of a number of recent analyst reports. BNP Paribas raised NuScale Power to a "hold" rating in a report on Friday, July 25th. UBS Group lifted their price target on NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Northland Capmk raised NuScale Power to a "hold" rating in a report on Monday, July 7th. Northland Securities started coverage on NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price for the company. Finally, BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.67.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 532,354 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $36.52, for a total transaction of $19,441,568.08. Following the completion of the sale, the director directly owned 3,424,278 shares of the company's stock, valued at $125,054,632.56. This represents a 13.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 11,624,569 shares of company stock worth $468,599,880. 1.27% of the stock is owned by corporate insiders.

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.

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