Invesco Ltd. Acquires 39,167 Shares of NuScale Power Corporation $SMR

Invesco Ltd. grew its position in NuScale Power Corporation (NYSE:SMR - Free Report) by 112.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,916 shares of the company's stock after buying an additional 39,167 shares during the quarter. Invesco Ltd.'s holdings in NuScale Power were worth $1,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kaizen Financial Strategies acquired a new position in shares of NuScale Power in the 1st quarter valued at approximately $204,000. Cambridge Investment Research Advisors Inc. increased its position in NuScale Power by 31.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock worth $2,734,000 after purchasing an additional 46,744 shares in the last quarter. California State Teachers Retirement System increased its position in NuScale Power by 17.9% during the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock worth $1,429,000 after purchasing an additional 12,070 shares in the last quarter. Ameriprise Financial Inc. increased its position in NuScale Power by 34.1% during the 4th quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock worth $943,000 after purchasing an additional 13,373 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in NuScale Power by 6.9% during the 1st quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock worth $189,000 after purchasing an additional 833 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SMR. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. UBS Group upped their price objective on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. Finally, CLSA set a $41.00 price target on shares of NuScale Power and gave the company 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 given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $36.20.

Insider Buying and Selling at NuScale Power

In related news, COO Carl M. Fisher sold 18,206 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,647,211.97. This represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.

NuScale Power Stock Performance

Shares of NYSE:SMR traded up $3.04 during trading on Wednesday, reaching $40.28. The stock had a trading volume of 32,367,057 shares, compared to its average volume of 11,202,002. The firm's fifty day moving average is $40.38 and its 200 day moving average is $28.40. NuScale Power Corporation has a 52 week low of $6.88 and a 52 week high of $53.50. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of -33.85 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm 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 221.07% and a positive return on equity of 2.61%. On average, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal 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.