R Squared Ltd Makes New $352,000 Investment in NuScale Power Corporation $SMR

Key Points

• R Squared Ltd has made a new investment in NuScale Power Corporation, acquiring 8,904 shares valued at approximately $352,000 during the second quarter.
• Several institutional investors have increased their holdings in NuScale Power, with Harbour Investments Inc. boosting its position by 21.3% in the same quarter.
• NuScale Power's stock recently received mixed ratings from analysts, with targets ranging from $35.00 to $55.00, reflecting differing outlooks on the company's future performance.

R Squared Ltd purchased a new position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,904 shares of the company's stock, valued at approximately $352,000.

Several other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. increased its position in shares of NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after purchasing an additional 203 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of NuScale Power by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock worth $824,000 after purchasing an additional 212 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after acquiring an additional 359 shares during the period. Union Bancaire Privee UBP SA boosted its stake in shares of NuScale Power by 9.1% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company's stock worth $182,000 after acquiring an additional 386 shares during the period. Finally, Albion Financial Group UT boosted its stake in shares of NuScale Power by 26.2% during the 2nd quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock worth $81,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SMR shares. Royal Bank Of Canada started coverage on NuScale Power in a research note on Monday, September 15th. They set a "sector perform" rating and a $35.00 target price for the company. Barclays started coverage on NuScale Power in a research note on Monday, September 29th. They issued an "equal weight" rating and a $45.00 price target for the company. UBS Group boosted their price target on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. BNP Paribas downgraded NuScale Power from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Finally, Cantor Fitzgerald started coverage on NuScale Power in a research note on Tuesday. They issued an "overweight" rating and a $55.00 price target for the company. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $37.73.

NuScale Power Stock Performance

NYSE:SMR opened at $37.56 on Friday. The stock has a fifty day moving average price of $38.45 and a 200-day moving average price of $34.15. The company has a market cap of $10.70 billion, a price-to-earnings ratio of -31.56 and a beta of 2.02. NuScale Power Corporation has a fifty-two week low of $11.08 and a fifty-two week high of $57.42.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 87,900 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 15,048,847 shares of company stock worth $606,761,579. Corporate 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.

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