Polar Asset Management Partners Inc. Lowers Position in NuScale Power Co. (NYSE:SMR)

Polar Asset Management Partners Inc. trimmed its holdings in NuScale Power Co. (NYSE:SMR - Free Report) by 91.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,747 shares of the company's stock after selling 173,200 shares during the period. Polar Asset Management Partners Inc.'s holdings in NuScale Power were worth $300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SMR. CoreCap Advisors LLC acquired a new stake in NuScale Power in the 4th quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its holdings in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after buying an additional 1,500 shares during the period. Twin Tree Management LP acquired a new position in NuScale Power during the 4th quarter worth about $42,000. Amalgamated Bank grew its position in 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 acquiring an additional 986 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in NuScale Power by 2,980.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after purchasing an additional 3,576 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a research note on Tuesday. UBS Group raised their price target on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the stock a "buy" rating in a report on Thursday. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Finally, BTIG Research reaffirmed a "buy" rating on shares of NuScale Power in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $27.00.

NuScale Power Stock Down 6.5%

Shares of NYSE SMR traded down $2.32 during midday trading on Thursday, hitting $33.05. 20,717,816 shares of the company's stock were exchanged, compared to its average volume of 9,032,889. The firm's fifty day simple moving average is $18.45 and its 200-day simple moving average is $20.65. The company has a market cap of $9.40 billion, a PE ratio of -34.79 and a beta of 1.62. NuScale Power Co. has a twelve month low of $6.61 and a twelve month high of $36.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. Research analysts predict that NuScale Power Co. will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the sale, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. The trade was a 95.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was 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 in the company, valued at approximately $1,459,272.70. This trade represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,392 shares of company stock valued at $3,138,221 over the last ninety days. Insiders own 1.27% of the company's stock.

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.