Voleon Capital Management LP Buys Shares of 52,363 NuScale Power Corporation $SMR

Key Points

• Voleon Capital Management LP acquired 52,363 shares of NuScale Power Corporation, totaling approximately $741,000, during the first quarter of 2023.
• NuScale Power is experiencing significant interest from institutional investors, with 78.37% of its stock owned by hedge funds and institutional investors.
• Analysts have mixed ratings on NuScale Power stock, with an average rating of "Hold" and target prices ranging from $35.00 to $46.00.

Voleon Capital Management LP purchased a new position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,363 shares of the company's stock, valued at approximately $741,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quantbot Technologies LP acquired a new position in shares of NuScale Power in the first quarter valued at approximately $27,000. CoreCap Advisors LLC acquired a new position in NuScale Power during the 4th quarter worth $33,000. NBC Securities Inc. increased its holdings in NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 shares during the period. Stone House Investment Management LLC acquired a new stake in NuScale Power in the 1st quarter valued at about $50,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of NuScale Power in the 1st quarter valued at about $141,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SMR shares. Bank of America started coverage on shares of NuScale Power in a research note on Thursday, August 21st. They set a "neutral" rating and a $36.00 target price on the stock. CLSA set a $41.00 price target on shares of NuScale Power and gave the stock an "outperform" rating in a report on Tuesday, May 27th. Northland Securities started 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. Citigroup initiated coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective for the company. Finally, Northland Capmk raised NuScale Power to a "hold" rating in a report on Monday, July 7th. Three analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, NuScale Power currently has an average rating of "Hold" and an average target price of $36.20.

Insider Buying and Selling at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the sale, the chief financial officer directly owned 46,283 shares of the company's stock, valued at $1,647,211.97. This represents a 39.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 in the company, valued at $4,033,452.96. This represents a 16.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

NuScale Power Trading Up 4.0%

Shares of NYSE:SMR opened at $35.31 on Wednesday. The company has a market capitalization of $10.06 billion, a PE ratio of -29.67 and a beta of 2.03. NuScale Power Corporation has a twelve month low of $7.37 and a twelve month high of $53.50. The firm has a 50 day simple moving average of $40.13 and a 200-day simple moving average of $28.83.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $8.05 million during the quarter, compared to analysts' expectations of $10.49 million. As a group, equities research analysts predict 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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