Wealthcare Advisory Partners LLC Invests $267,000 in NuScale Power Corporation $SMR

Key Points

• Wealthcare Advisory Partners LLC invested $267,000 in NuScale Power Corporation by acquiring 6,737 shares in the second quarter.
• Several institutional investors significantly increased their stakes in NuScale Power, with UBS AM increasing its investment by over 1,220% in the first quarter.
• A director of NuScale Power sold over 2.3 million shares for approximately $104.4 million, resulting in a 19.04% decrease in their ownership of the stock.

Wealthcare Advisory Partners LLC acquired a new position in shares of NuScale Power Corporation (NYSE:SMR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,737 shares of the company's stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after buying an additional 1,705,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after buying an additional 1,153,158 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in NuScale Power in the 1st quarter valued at about $14,271,000. Vanguard Group Inc. increased its stake in NuScale Power by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after buying an additional 512,618 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in NuScale Power by 623.4% in the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company's stock valued at $6,475,000 after buying an additional 394,065 shares during the last quarter. Institutional investors own 78.37% of the company's stock.

Insider Activity

In related news, Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director owned 10,085,344 shares in the company, valued at $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 15,048,847 shares of company stock worth $606,761,579 in the last 90 days. 1.27% of the stock is owned by insiders.

NuScale Power Stock Performance

NYSE SMR opened at $39.29 on Friday. The company has a market capitalization of $11.19 billion, a P/E ratio of -33.02 and a beta of 2.02. The company has a fifty day moving average of $37.96 and a 200-day moving average of $32.21. NuScale Power Corporation has a 52-week low of $11.08 and a 52-week high of $53.50.

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

Wall Street Analyst Weigh In

Several research firms have commented on SMR. Canaccord Genuity Group increased their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research note on Friday, July 25th. Weiss Ratings restated a "sell (e+)" rating on shares of NuScale Power in a research note on Wednesday. Barclays initiated coverage on shares of NuScale Power in a research note on Monday, September 29th. They set an "equal weight" rating and a $45.00 price target for the company. Finally, Northland Securities initiated coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, NuScale Power currently has a consensus rating of "Hold" and a consensus price target of $36.67.

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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