Voloridge Investment Management LLC Makes New Investment in NuScale Power Co. (NYSE:SMR)

Voloridge Investment Management LLC bought a new position in shares of NuScale Power Co. (NYSE:SMR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 98,478 shares of the company's stock, valued at approximately $1,766,000.

Several other hedge funds have also made changes to their positions in the business. Victory Capital Management Inc. raised its position in NuScale Power by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock worth $191,000 after buying an additional 656 shares during the last quarter. Amalgamated Bank increased its stake in shares of NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock worth $52,000 after acquiring an additional 986 shares during the period. Summit Investment Advisors Inc. raised its holdings in NuScale Power by 16.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock worth $159,000 after purchasing an additional 1,260 shares in the last quarter. Corient Private Wealth LLC lifted its position in NuScale Power by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company's stock valued at $379,000 after purchasing an additional 1,314 shares during the period. Finally, Barclays PLC lifted its position in NuScale Power by 1.0% in the fourth quarter. Barclays PLC now owns 152,237 shares of the company's stock valued at $2,730,000 after purchasing an additional 1,446 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on SMR shares. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the company a "buy" rating in a research note on Thursday. BTIG Research reiterated a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. UBS Group boosted their target price on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, CLSA set a $41.00 price target on shares of NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $27.00.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This trade represents a 95.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,392 shares of company stock worth $3,138,221. Insiders own 1.27% of the company's stock.

NuScale Power Price Performance

SMR stock traded down $0.82 during midday trading on Friday, hitting $32.16. 15,502,020 shares of the stock were exchanged, compared to its average volume of 9,093,725. The stock's 50-day moving average price is $19.00 and its 200-day moving average price is $20.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of -33.85 and a beta of 1.62. NuScale Power Co. has a fifty-two week low of $6.61 and a fifty-two week high of $36.85.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. Research analysts predict that NuScale Power Co. will post -0.73 earnings per share for the current 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.