Invesco Ltd. reduced its holdings in NuScale Power Co. (NYSE:SMR - Free Report) by 95.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,749 shares of the company's stock after selling 654,671 shares during the period. Invesco Ltd.'s holdings in NuScale Power were worth $623,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in NuScale Power by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company's stock valued at $1,930,000 after purchasing an additional 111,812 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of NuScale Power during the third quarter worth $555,000. Spire Wealth Management purchased a new position in shares of NuScale Power in the fourth quarter worth about $262,000. Bouvel Investment Partners LLC acquired a new position in NuScale Power during the fourth quarter worth about $973,000. Finally, Raymond James Financial Inc. purchased a new stake in NuScale Power during the 4th quarter valued at about $2,755,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. UBS Group lowered their target price on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. BTIG Research assumed coverage on NuScale Power in a report on Friday, April 11th. They issued a "buy" rating and a $20.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.60.
Get Our Latest Analysis on NuScale Power
Insider Activity
In other news, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the sale, the chief financial officer now directly owns 29,985 shares of the company's stock, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now owns 1,149 shares of the company's stock, valued at $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. Insiders have sold a total of 99,133 shares of company stock valued at $1,519,349 in the last quarter. Insiders own 1.96% of the company's stock.
NuScale Power Trading Up 3.6 %
SMR traded up $0.62 during trading hours on Tuesday, reaching $17.73. The company's stock had a trading volume of 11,183,133 shares, compared to its average volume of 8,351,014. The business's 50-day moving average is $15.96 and its 200-day moving average is $20.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market cap of $5.01 billion, a PE ratio of -18.66 and a beta of 1.62. NuScale Power Co. has a fifty-two week low of $5.50 and a fifty-two week high of $32.30.
About NuScale Power
(
Free Report)
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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