Wealth Enhancement Advisory Services LLC Takes Position in NuScale Power Corporation (NYSE:SMR)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,548 shares of the company's stock, valued at approximately $207,000.

A number of other large investors have also modified their holdings of SMR. Victory Capital Management Inc. grew its holdings in shares of NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock worth $191,000 after purchasing an additional 656 shares during the last quarter. Amalgamated Bank grew its holdings 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 purchasing an additional 986 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of 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 during the last quarter. Corient Private Wealth LLC grew its holdings in shares of NuScale Power by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company's stock worth $379,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of NuScale Power by 1.0% during the fourth quarter. Barclays PLC now owns 152,237 shares of the company's stock worth $2,730,000 after purchasing an additional 1,446 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company's stock.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 26,345 shares of NuScale Power stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of NuScale Power stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the sale, the vice president now owns 1,218 shares of the company's stock, valued at approximately $20,632.92. The trade was a 56.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,278 shares of company stock worth $2,286,280 over the last 90 days. Company insiders own 1.27% of the company's stock.

NuScale Power Stock Performance

NYSE:SMR traded down $0.09 during mid-day trading on Thursday, reaching $39.15. The stock had a trading volume of 10,529,084 shares, compared to its average volume of 9,651,669. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of -28.58 and a beta of 2.00. NuScale Power Corporation has a twelve month low of $6.88 and a twelve month high of $45.31. The business has a 50 day simple moving average of $25.08 and a 200 day simple moving average of $21.69.

NuScale Power (NYSE:SMR - Get Free Report) last announced 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. The firm had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. As a group, sell-side analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SMR shares. UBS Group raised their price objective on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. BTIG Research reiterated a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. CLSA set a $41.00 target price on shares of NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Finally, Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.00.

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.