Pictet Asset Management Holding SA Has $291,000 Holdings in NuScale Power Corporation $SMR

Key Points

• Pictet Asset Management sharply reduced its NuScale Power stake by 86.9% in the first quarter, selling 177,564 shares and leaving it with 26,837 shares valued at about $291,000.
• NuScale Power’s stock and financials remain weak: shares recently traded at $9.07, near the 52-week low, and the company reported a quarterly loss of $0.14 per share on just $0.56 million in revenue, well below expectations.
• Analysts are cautious on SMR, with a consensus rating of Hold and an average price target of $15.92; meanwhile, insider selling has been significant, including a 13.5 million-share sale by Fluor Corp. director Corp Fluor.

Pictet Asset Management Holding SA lessened its position in NuScale Power Corporation (NYSE:SMR - Free Report) by 86.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,837 shares of the company's stock after selling 177,564 shares during the quarter. Pictet Asset Management Holding SA's holdings in NuScale Power were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Strategic Advocates LLC bought a new position in shares of NuScale Power in the third quarter worth about $25,000. Vermillion & White Wealth Management Group LLC boosted its stake in NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company's stock valued at $25,000 after purchasing an additional 1,675 shares during the period. Ameriflex Group Inc. bought a new stake in NuScale Power during the 4th quarter valued at approximately $30,000. Harbour Investments Inc. grew its holdings in NuScale Power by 32.4% in the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company's stock valued at $34,000 after buying an additional 592 shares during the last quarter. Finally, Knuff & Co LLC acquired a new stake in NuScale Power in the 4th quarter valued at approximately $35,000. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Price Performance

Shares of SMR traded up $0.04 on Friday, reaching $9.07. 25,162,255 shares of the stock traded hands, compared to its average volume of 28,547,888. The stock's 50-day moving average price is $11.02 and its 200-day moving average price is $13.16. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -3.11 and a beta of 2.24. NuScale Power Corporation has a 12 month low of $8.55 and a 12 month high of $57.42.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The business had revenue of $0.56 million for the quarter, compared to analyst estimates of $7.00 million. The company's quarterly revenue was down 95.8% compared to the same quarter last year. As a group, equities research analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SMR shares. Northland Securities set a $19.00 price target on NuScale Power in a report on Monday, May 11th. The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a research report on Friday, May 8th. UBS Group cut their target price on shares of NuScale Power from $20.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. Citigroup reduced their price target on shares of NuScale Power from $9.00 to $7.00 and set a "sell" rating for the company in a report on Monday, May 11th. Finally, B. Riley Financial decreased their price target on shares of NuScale Power from $24.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.92.

Insiders Place Their Bets

In related news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is currently owned by insiders.

About NuScale Power

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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