Swiss National Bank Raises Stake in NuScale Power Corporation $SMR

Key Points

• The Swiss National Bank increased its stake in NuScale Power Corporation by 19.3% during the first quarter, acquiring an additional 32,400 shares, bringing its total to 200,100 shares.
• NuScale Power's shares are currently trading at approximately $35.04, having risen by 4.6%, while the company reports a market cap of $9.98 billion.
• Recent earnings reported a loss per share of ($0.13), below expectations, with revenues of $8.05 million, missing the consensus estimate of $10.49 million.

Swiss National Bank lifted its holdings in shares of NuScale Power Corporation (NYSE:SMR - Free Report) by 19.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 200,100 shares of the company's stock after acquiring an additional 32,400 shares during the period. Swiss National Bank owned 0.07% of NuScale Power worth $2,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in NuScale Power during the first quarter worth approximately $14,271,000. Vanguard Group Inc. grew its position in shares of NuScale Power by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after buying an additional 512,618 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in NuScale Power during the 4th quarter worth $7,628,000. TB Alternative Assets Ltd. purchased a new stake in NuScale Power in the first quarter valued at $5,938,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of NuScale Power during the fourth quarter worth about $4,273,000. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Trading Up 4.6%

Shares of NYSE:SMR traded up $1.5540 during trading on Friday, hitting $35.0440. 11,195,486 shares of the stock were exchanged, compared to its average volume of 12,830,846. The company has a market cap of $9.98 billion, a PE ratio of -29.45 and a beta of 2.06. The company has a fifty day moving average price of $40.88 and a two-hundred day moving average price of $27.78. NuScale Power Corporation has a 12-month low of $6.88 and a 12-month high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last issued 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). The firm had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. Equities research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other 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 transaction of $808,164.34. Following the completion of the transaction, the chief operating officer directly owned 90,864 shares of the company's stock, valued at $4,033,452.96. This trade represents a 16.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMR. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a "neutral" rating in a report on Tuesday, May 20th. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research report on Friday, July 25th. Canaccord Genuity Group boosted their target price on NuScale Power from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Finally, Bank of America assumed coverage on NuScale Power in a report on Thursday. They issued a "neutral" rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, NuScale Power currently has an average rating of "Hold" and a consensus target price of $34.60.

About NuScale Power

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.