Perbak Capital Partners LLP Takes Position in NuScale Power Corporation $SMR

Key Points

• Perbak Capital Partners LLP acquired 33,396 shares of NuScale Power Corporation in the first quarter, valued at approximately $473,000, reflecting increasing institutional interest in the nuclear energy sector.
• NuScale Power's recent earnings report showed an EPS of ($0.13), missing estimates, with revenues of $8.05 million compared to a forecast of $10.49 million.
• Analysts are divided on NuScale, with a consensus rating of "Hold" and an average target price of $34.60, indicating cautious optimism about the company's future performance.

Perbak Capital Partners LLP acquired a new stake in NuScale Power Corporation (NYSE:SMR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,396 shares of the company's stock, valued at approximately $473,000.

Several other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in shares of NuScale Power during the fourth quarter valued at $33,000. Quantbot Technologies LP purchased a new stake in shares of NuScale Power during the first quarter valued at $27,000. NBC Securities Inc. lifted its holdings 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 valued at $46,000 after purchasing an additional 3,309 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of NuScale Power during the first quarter valued at $50,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of NuScale Power during the first quarter valued at $141,000. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Trading Down 5.1%

Shares of SMR stock opened at $34.62 on Tuesday. The stock has a 50 day moving average of $40.47 and a two-hundred day moving average of $28.25. NuScale Power Corporation has a 12 month low of $6.88 and a 12 month high of $53.50. The company has a market capitalization of $9.86 billion, a P/E ratio of -29.09 and a beta of 2.03.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup assumed coverage on NuScale Power in a research note on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective for the company. Canaccord Genuity Group upped their target price on NuScale Power from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Finally, Northland Securities initiated coverage on NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, NuScale Power presently has a consensus rating of "Hold" and an average target price of $34.60.

Insider Buying and Selling

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the firm'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 completion of the sale, the chief operating officer owned 90,864 shares in the company, valued at approximately $4,033,452.96. This trade represents a 16.69% decrease in their position. 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 firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares of the company's stock, 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 currently owned by company 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.

Want to see what other hedge funds are holding SMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NuScale Power Corporation (NYSE:SMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.