Pictet Asset Management Holding SA Has $2.90 Million Stake in NuScale Power Corporation $SMR

Key Points

• Pictet Asset Management boosted its stake in NuScale by 149.6% in Q4 to 204,401 shares (about $2.90M), while institutional investors collectively own roughly 78.37% of the company.
• Large insider selling: Director Fluor sold 13.5 million shares for ~$159.4M and insiders have sold ~40.57 million shares (~$481.0M) in the past three months, leaving insiders with just 1.28% ownership.
• Weak results and mixed analyst view: NuScale reported Q4 EPS of ($0.80) vs. ($0.10) expected and revenue $1.81M vs. $8.76M expected, prompting price-target cuts and an average analyst target of $19.77 with a consensus "Hold."

Pictet Asset Management Holding SA grew its stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 149.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 204,401 shares of the company's stock after buying an additional 122,494 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of NuScale Power worth $2,896,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Sanctuary Advisors LLC grew its position in NuScale Power by 19.6% during the fourth quarter. Sanctuary Advisors LLC now owns 55,892 shares of the company's stock worth $792,000 after buying an additional 9,155 shares in the last quarter. Vanguard Group Inc. raised its holdings in NuScale Power by 40.5% in the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company's stock valued at $220,273,000 after acquiring an additional 4,482,254 shares in the last quarter. Marathon Capital Management bought a new stake in shares of NuScale Power in the 4th quarter worth approximately $708,000. Rakuten Securities Inc. lifted its position in shares of NuScale Power by 60.4% in the 4th quarter. Rakuten Securities Inc. now owns 47,158 shares of the company's stock worth $668,000 after acquiring an additional 17,755 shares during the period. Finally, Riggs Asset Managment Co. Inc. grew its holdings in shares of NuScale Power by 66.8% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 16,737 shares of the company's stock worth $237,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

Insider Buying and Selling

In related news, COO Carl M. Fisher sold 22,197 shares of NuScale Power stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $271,247.34. Following the completion of the transaction, the chief operating officer directly owned 140,141 shares of the company's stock, valued at $1,712,523.02. This trade represents a 13.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Corp Fluor sold 13,500,000 shares of the business's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,572,082 shares of company stock worth $481,029,608 in the last three months. Company insiders own 1.28% of the company's stock.

NuScale Power Trading Up 0.1%

Shares of SMR opened at $12.16 on Monday. The stock has a market cap of $4.11 billion, a PE ratio of -4.21 and a beta of 2.24. NuScale Power Corporation has a 1 year low of $8.85 and a 1 year high of $57.42. The stock has a 50 day simple moving average of $11.66 and a 200-day simple moving average of $18.87.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.70). NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. The company had revenue of $1.81 million during the quarter, compared to the consensus estimate of $8.76 million. On average, sell-side analysts forecast that NuScale Power Corporation will post -0.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of NuScale Power in a research report on Friday, March 27th. HSBC initiated coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They set a "hold" rating and a $13.00 price target on the stock. Citigroup lowered their price target on shares of NuScale Power from $11.50 to $9.00 and set a "sell" rating on the stock in a report on Tuesday, April 21st. Barclays dropped their price objective on shares of NuScale Power from $45.00 to $15.00 and set an "equal weight" rating for the company in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of NuScale Power from $20.00 to $14.00 and set a "neutral" rating for the company in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.77.

NuScale Power Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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