Wealth Effects LLC Invests $683,000 in NuScale Power Corporation (NYSE:SMR)

Wealth Effects LLC acquired a new position in NuScale Power Corporation (NYSE:SMR - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 48,200 shares of the company's stock, valued at approximately $683,000.

Several other hedge funds have also recently bought and sold shares of SMR. Vanguard Group Inc. increased its stake in shares of NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock valued at $151,113,000 after purchasing an additional 635,271 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NuScale Power by 1.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company's stock valued at $101,998,000 after acquiring an additional 89,949 shares in the last quarter. Samsung C&T Corp bought a new stake in NuScale Power during the 4th quarter valued at $46,745,000. Geode Capital Management LLC boosted its position in NuScale Power by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock worth $35,249,000 after acquiring an additional 135,613 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of NuScale Power in the fourth quarter worth $22,823,000. 78.37% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 34,675 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the sale, the chief executive officer now owns 49,019 shares of the company's stock, valued at $833,323. This trade represents a 41.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,278 shares of company stock worth $2,286,280 over the last 90 days. 1.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SMR. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a report on Tuesday, May 20th. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday. Citigroup began coverage on shares of NuScale Power in a research report on Monday. They issued a "neutral" rating and a $46.00 price target on the stock. UBS Group upped their price target on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Finally, Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NuScale Power currently has a consensus rating of "Moderate Buy" and an average price target of $29.38.

NuScale Power Stock Down 1.0%

Shares of NYSE SMR traded down $0.38 during mid-day trading on Thursday, hitting $38.29. 9,808,841 shares of the company traded hands, compared to its average volume of 9,782,589. NuScale Power Corporation has a 1 year low of $6.88 and a 1 year high of $45.31. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of -27.95 and a beta of 2.00. The business has a 50 day moving average of $26.99 and a two-hundred day moving average of $22.08.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. The company had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. As a group, research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

NuScale Power 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.