Tcfg Wealth Management LLC Invests $549,000 in NuScale Power Corporation $SMR

Key Points

• Tcfg Wealth Management LLC has invested approximately $549,000 in NuScale Power Corporation by purchasing 13,885 shares during the 2nd quarter.
• NuScale Power's shares have experienced growth, trading up 4.5% recently, and the company has a market cap of $11.95 billion.
• Despite recent investments, NuScale Power reported a loss of ($0.13) EPS for the last quarter, missing analyst estimates of ($0.12).

Tcfg Wealth Management LLC purchased a new stake in NuScale Power Corporation (NYSE:SMR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,885 shares of the company's stock, valued at approximately $549,000.

Several other institutional investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after acquiring an additional 1,705,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock worth $96,880,000 after buying an additional 1,153,158 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in NuScale Power in the 1st quarter valued at $14,271,000. Vanguard Group Inc. raised its stake in NuScale Power by 6.1% during the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock worth $126,598,000 after purchasing an additional 512,618 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of NuScale Power by 623.4% during the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company's stock worth $6,475,000 after purchasing an additional 394,065 shares during the period. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Trading Up 4.5%

Shares of SMR opened at $41.94 on Tuesday. The company has a 50-day moving average of $38.69 and a two-hundred day moving average of $31.82. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $53.50. The stock has a market cap of $11.95 billion, a P/E ratio of -35.24 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) 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 firm had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. As a group, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group raised their target price on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. BNP Paribas raised NuScale Power to a "hold" rating in a report on Friday, July 25th. Bank of America reiterated an "underperform" rating and issued a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Finally, BNP Paribas Exane started coverage on shares of NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.67.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 854,033 shares of NuScale Power stock in a transaction on Monday, October 6th. The stock was sold at an average price of $42.41, for a total value of $36,219,539.53. Following the transaction, the director owned 908,761 shares in the company, valued at approximately $38,540,554.01. This trade represents a 48.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 14,140,086 shares of company stock worth $569,889,872. Corporate insiders own 1.96% of the company's stock.

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.

Want to see what other hedge funds are holding SMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NuScale Power Corporation (NYSE:SMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.