Rhumbline Advisers Has $1.78 Million Stake in NuScale Power Corporation (NYSE:SMR)

Rhumbline Advisers raised its stake in NuScale Power Corporation (NYSE:SMR - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,708 shares of the company's stock after buying an additional 14,304 shares during the quarter. Rhumbline Advisers' holdings in NuScale Power were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Parallel Advisors LLC raised its position in shares of NuScale Power by 6.8% during the first quarter. Parallel Advisors LLC now owns 61,490 shares of the company's stock worth $871,000 after purchasing an additional 3,903 shares during the period. GAMMA Investing LLC grew its holdings in shares of NuScale Power by 5,590.4% during the first quarter. GAMMA Investing LLC now owns 15,364 shares of the company's stock worth $218,000 after buying an additional 15,094 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of NuScale Power by 17.9% during the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock worth $1,429,000 after buying an additional 12,070 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of NuScale Power during the fourth quarter worth about $207,000. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of NuScale Power during the fourth quarter worth about $324,000. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Trading Down 7.7%

NYSE:SMR opened at $39.23 on Wednesday. The stock has a market cap of $11.16 billion, a P/E ratio of -28.64 and a beta of 2.00. The stock has a 50 day simple moving average of $24.13 and a 200 day simple moving average of $21.49. NuScale Power Corporation has a 1-year low of $6.88 and a 1-year high of $45.31.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The firm had revenue of $13.38 million during the quarter, compared to analysts' expectations of $1.46 million. As a group, sell-side analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling at NuScale Power

In related news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares of the company's stock, valued at approximately $7,810,211.91. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,278 shares of company stock worth $2,286,280. Insiders own 1.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SMR. UBS Group raised their price target on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. BTIG Research reaffirmed a "buy" rating on shares of NuScale Power in a report on Tuesday, May 13th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. Finally, Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, NuScale Power has an average rating of "Moderate Buy" and a consensus target price of $27.00.

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.

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