Rockefeller Capital Management L.P. Buys New Shares in NuScale Power Corporation $SMR

Key Points

• Rockefeller Capital Management initiated a new stake of 66,101 shares in NuScale Power (NYSE:SMR) in Q2, valued at about $2.62 million, and other institutions also increased positions bringing institutional ownership to roughly 78.37%.
• NuScale reported a weak quarter with EPS of ($1.85) versus a consensus ($0.11) and revenue of $8.24M vs. $11.29M expected, leaving the company with severely negative margins and analysts projecting about -0.73 EPS for the year.
• Insiders sold heavily (15.03 million shares, approx. $606M, in the last quarter) and analyst coverage is mixed-to-negative with a MarketBeat consensus rating of Reduce and an average target of $37.50; the stock trades near $18.58 with a $5.55B market cap.

Rockefeller Capital Management L.P. purchased a new stake in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,101 shares of the company's stock, valued at approximately $2,615,000.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its holdings in shares of NuScale Power by 72.3% during the 2nd quarter. Intech Investment Management LLC now owns 91,362 shares of the company's stock worth $3,614,000 after purchasing an additional 38,347 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in NuScale Power in the second quarter worth $1,189,000. Creative Planning boosted its stake in NuScale Power by 253.0% during the second quarter. Creative Planning now owns 74,339 shares of the company's stock worth $2,941,000 after buying an additional 53,282 shares in the last quarter. SG Americas Securities LLC acquired a new stake in NuScale Power during the second quarter worth $632,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of NuScale Power in the 2nd quarter valued at $231,000. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Trading Down 0.6%

Shares of NuScale Power stock opened at $18.58 on Monday. NuScale Power Corporation has a 1-year low of $11.08 and a 1-year high of $57.42. The firm's 50-day moving average price is $36.63 and its two-hundred day moving average price is $36.64. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -6.50 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The business had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm's revenue was up 1635.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) earnings per share. As a group, equities research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

SMR has been the topic of several recent research reports. Wall Street Zen lowered shares of NuScale Power from a "hold" rating to a "sell" rating in a research report on Saturday, November 8th. BNP Paribas downgraded NuScale Power from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 21st. UBS Group upped their price objective 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 Exane downgraded NuScale Power from a "neutral" rating to an "underperform" rating in a research report on Tuesday, October 21st. Finally, 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 on the stock. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $37.50.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 87,900 shares of the firm's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 15,030,641 shares of company stock worth $605,953,415 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

NuScale Power Company 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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