Philip James Wealth Mangement LLC Decreases Stock Position in NuScale Power Corporation (NYSE:SMR)

Philip James Wealth Mangement LLC lessened its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,489 shares of the company's stock after selling 12,230 shares during the period. Philip James Wealth Mangement LLC's holdings in NuScale Power were worth $1,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CoreCap Advisors LLC purchased a new position in NuScale Power during the 4th quarter valued at about $33,000. Twin Tree Management LP purchased a new position in NuScale Power during the 4th quarter worth approximately $42,000. Amalgamated Bank lifted its holdings in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after buying an additional 986 shares during the period. NBC Securities Inc. increased its holdings in NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after buying an additional 3,309 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of NuScale Power by 2,980.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after buying an additional 3,576 shares during the period. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Stock Performance

Shares of NYSE:SMR opened at $38.29 on Friday. The company has a market cap of $10.89 billion, a P/E ratio of -27.95 and a beta of 2.00. The business's 50-day simple moving average is $27.46 and its 200 day simple moving average is $22.18. NuScale Power Corporation has a one year low of $6.88 and a one year high of $45.31.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. Analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SMR. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday. Canaccord Genuity Group set a $35.00 price target on shares of NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. UBS Group increased their target price on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, NuScale Power currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.38.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Clayton Scott sold 10,019 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.78, for a total transaction of $168,118.82. Following the transaction, the insider now owns 86,965 shares of the company's stock, valued at approximately $1,459,272.70. This trade represents a 10.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,278 shares of company stock worth $2,286,280. 1.27% of the stock is owned by company 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.

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.