NuScale Power Corporation $SMR Stock Holdings Raised by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in NuScale Power Corporation by 12.8% during Q1, acquiring an additional 14,304 shares, bringing its total holdings to 125,708 shares valued at approximately $1.78 million.
• Several other institutional investors also significantly increased their positions in NuScale Power, with UBS Asset Management raising its holdings by over 1,220% to own over 1.8 million shares worth $26.1 million.
• NuScale Power's shares are currently trading at around $38.06, showing significant volatility with a 52-week range between $9.20 and $53.50.

Rhumbline Advisers increased its position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 12.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,708 shares of the company's stock after purchasing an additional 14,304 shares during the period. Rhumbline Advisers' holdings in NuScale Power were worth $1,780,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in NuScale Power in the first quarter valued at about $60,000. Integrity Alliance LLC. increased its holdings in NuScale Power by 56.3% in the first quarter. Integrity Alliance LLC. now owns 17,219 shares of the company's stock valued at $244,000 after buying an additional 6,200 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after buying an additional 1,705,411 shares in the last quarter. Voleon Capital Management LP purchased a new position in NuScale Power in the first quarter valued at about $741,000. Finally, Jones Financial Companies Lllp increased its holdings in NuScale Power by 9.1% in the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company's stock valued at $238,000 after buying an additional 1,394 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Carl M. Fisher sold 18,206 shares of NuScale Power stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the transaction, the chief operating officer owned 90,864 shares in the company, valued at approximately $4,033,452.96. The trade was a 16.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Corp Fluor sold 1,193,504 shares of NuScale Power stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $38.95, for a total transaction of $46,486,980.80. Following the transaction, the director owned 12,457,907 shares in the company, valued at $485,235,477.65. The trade was a 8.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,590,940 shares of company stock valued at $97,907,007 in the last ninety days. Company insiders own 1.27% of the company's stock.

NuScale Power Stock Up 22.0%

Shares of NYSE SMR traded up $8.40 during trading on Friday, hitting $46.52. 51,875,326 shares of the company traded hands, compared to its average volume of 14,298,589. NuScale Power Corporation has a 1 year low of $9.71 and a 1 year high of $53.50. The company has a 50-day moving average price of $40.42 and a 200-day moving average price of $29.89. The firm has a market capitalization of $13.25 billion, a P/E ratio of -39.09 and a beta of 2.03.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on SMR shares. UBS Group increased their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Canaccord Genuity Group increased their target price on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. CLSA set a $41.00 price objective on shares of NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Bank of America initiated coverage on shares of NuScale Power in a research note on Thursday, August 21st. They set a "neutral" rating and a $36.00 price objective for the company. Finally, BNP Paribas Exane initiated coverage on shares of NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $36.09.

NuScale Power Profile

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.