Swedbank AB Acquires 149,875 Shares of NuScale Power Corporation $SMR

Swedbank AB boosted its position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 6.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,402,125 shares of the company's stock after buying an additional 149,875 shares during the quarter. Swedbank AB owned approximately 0.84% of NuScale Power worth $34,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SMR. Ameriprise Financial Inc. raised its holdings in NuScale Power by 34.1% during the 4th quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock valued at $943,000 after buying an additional 13,373 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in NuScale Power during the 4th quarter valued at $200,000. Captrust Financial Advisors bought a new stake in NuScale Power during the 4th quarter valued at $272,000. Deutsche Bank AG raised its holdings in NuScale Power by 50.0% during the 4th quarter. Deutsche Bank AG now owns 75,396 shares of the company's stock valued at $1,352,000 after buying an additional 25,131 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in NuScale Power during the 4th quarter valued at $460,000. 78.37% of the stock is currently owned by institutional investors.

Insider Transactions at NuScale Power

In related news, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the transaction, the chief operating officer owned 90,864 shares of the company's stock, valued at approximately $4,033,452.96. This trade represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,647,211.97. The trade was a 39.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.27% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on SMR. Citigroup began coverage on shares of NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target for the company. Canaccord Genuity Group upped their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. CLSA set a $41.00 price objective on shares of NuScale Power and gave the stock an "outperform" rating in a report on Tuesday, May 27th. Finally, UBS Group upped their price objective on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $36.20.

NuScale Power Price Performance

NYSE:SMR opened at $36.17 on Friday. The firm's 50-day moving average price is $40.10 and its 200-day moving average price is $29.19. The company has a market capitalization of $10.30 billion, a PE ratio of -30.39 and a beta of 2.03. NuScale Power Corporation has a 1-year low of $8.80 and a 1-year high of $53.50.

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). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The business had revenue of $8.05 million during the quarter, compared to analysts' expectations of $10.49 million. Equities analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

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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