Swedbank AB Grows Stock Position in NuScale Power Corporation $SMR

Key Points

• Swedbank AB increased its NuScale Power stake by 36.3% in the first quarter, buying 400,240 additional shares and bringing its total to 1,502,300 shares valued at about $16.3 million.
• Analysts remain cautious on SMR, with several firms assigning hold or sell ratings; the current consensus is a “Hold” and the average price target is $15.92.
• NuScale’s latest results were weak, as the company reported a larger-than-expected quarterly loss and revenue far below forecasts, while insider selling also stood out with Fluor Corp disposing of 13.5 million shares.

Swedbank AB boosted its holdings in NuScale Power Corporation (NYSE:SMR - Free Report) by 36.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,502,300 shares of the company's stock after acquiring an additional 400,240 shares during the period. Swedbank AB owned 0.44% of NuScale Power worth $16,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nemes Rush Group LLC purchased a new stake in shares of NuScale Power in the third quarter valued at about $25,000. Strategic Advocates LLC acquired a new position in shares of NuScale Power during the 3rd quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC lifted its stake in NuScale Power by 1,550.9% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company's stock valued at $25,000 after buying an additional 1,675 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in NuScale Power in the 4th quarter valued at approximately $30,000. Finally, Harbour Investments Inc. grew its holdings in NuScale Power by 32.4% during the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company's stock valued at $34,000 after buying an additional 592 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SMR has been the subject of a number of analyst reports. Bank of America started coverage on NuScale Power in a report on Friday, May 22nd. They issued a "neutral" rating and a $12.00 price target for the company. Citigroup dropped their price objective on NuScale Power from $9.00 to $7.00 and set a "sell" rating for the company in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NuScale Power in a research note on Wednesday, June 24th. UBS Group lowered their price target on shares of NuScale Power from $20.00 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Finally, HSBC assumed coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They issued a "hold" rating and a $13.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of "Hold" and a consensus price target of $15.92.

NuScale Power Stock Performance

NuScale Power stock opened at $9.05 on Friday. NuScale Power Corporation has a 1 year low of $8.55 and a 1 year high of $57.42. The firm has a 50 day moving average price of $11.07 and a 200 day moving average price of $13.19. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -3.10 and a beta of 2.24.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). The company had revenue of $0.56 million for the quarter, compared to analysts' expectations of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The firm's quarterly revenue was down 95.8% compared to the same quarter last year. Sell-side analysts predict that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.28% of the stock is currently owned by insiders.

NuScale Power Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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