Verdence Capital Advisors LLC Takes Position in NuScale Power Corporation $SMR

Key Points

• Verdence Capital Advisors LLC has acquired 12,322 shares of NuScale Power Corporation, totaling approximately $487,000, reflecting strong interest from institutional investors.
• NuScale Power's stock performance shows volatility with a 52-week range from $11.08 to $56.16 and a current price of $53.28, leading to a market capitalization of $15.18 billion.
• The company reported an EPS of (0.13), missing estimates, and has a negative net margin of 221.07%, indicating challenges despite its growth potential.

Verdence Capital Advisors LLC purchased a new position in shares of 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 12,322 shares of the company's stock, valued at approximately $487,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMR. GAMMA Investing LLC raised its position in NuScale Power by 5,590.4% during the first quarter. GAMMA Investing LLC now owns 15,364 shares of the company's stock worth $218,000 after acquiring an additional 15,094 shares in the last quarter. Rhumbline Advisers raised its position in NuScale Power by 12.8% during the first quarter. Rhumbline Advisers now owns 125,708 shares of the company's stock worth $1,780,000 after acquiring an additional 14,304 shares in the last quarter. Farther Finance Advisors LLC raised its position in NuScale Power by 6.9% during the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock worth $189,000 after acquiring an additional 833 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in NuScale Power by 51.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,522 shares of the company's stock worth $248,000 after acquiring an additional 5,974 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in NuScale Power by 652.0% during the first quarter. Janney Montgomery Scott LLC now owns 84,778 shares of the company's stock worth $1,200,000 after acquiring an additional 73,504 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

NuScale Power Stock Performance

SMR stock opened at $53.28 on Thursday. The company's 50-day simple moving average is $38.14 and its 200 day simple moving average is $32.86. NuScale Power Corporation has a 52 week low of $11.08 and a 52 week high of $56.16. The company has a market capitalization of $15.18 billion, a PE ratio of -44.77 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The business had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. On average, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 15,048,847 shares of company stock valued at $606,761,579 in the last 90 days. Corporate insiders own 1.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SMR. Royal Bank Of Canada began coverage on shares of NuScale Power in a research report on Monday, September 15th. They set a "sector perform" rating and a $35.00 price target on the stock. BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Barclays assumed coverage on shares of NuScale Power in a report on Monday, September 29th. They issued an "equal weight" rating and a $45.00 price objective on the stock. Canaccord Genuity Group upped their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Northland Securities assumed coverage on shares of NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $36.67.

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.

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.