NewEdge Advisors LLC Has $896,000 Stake in NuScale Power Co. (NYSE:SMR)

NewEdge Advisors LLC increased its holdings in NuScale Power Co. (NYSE:SMR - Free Report) by 1,031.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,990 shares of the company's stock after purchasing an additional 45,571 shares during the quarter. NewEdge Advisors LLC's holdings in NuScale Power were worth $896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock valued at $191,000 after buying an additional 656 shares in the last quarter. Amalgamated Bank raised 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 valued at $52,000 after acquiring an additional 986 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of NuScale Power by 16.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock valued at $159,000 after acquiring an additional 1,260 shares in the last quarter. Corient Private Wealth LLC boosted its stake in NuScale Power by 6.6% in the 4th 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 period. Finally, Barclays PLC grew its position in NuScale Power by 1.0% during the 4th quarter. Barclays PLC now owns 152,237 shares of the company's stock worth $2,730,000 after purchasing an additional 1,446 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares of the company's stock, valued at $7,810,211.91. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now owns 29,985 shares of the company's stock, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,114 shares of company stock worth $1,351,231. 1.96% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SMR. UBS Group reduced their target price on NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, March 7th. BTIG Research initiated coverage on NuScale Power in a research note on Friday, April 11th. They issued a "buy" rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.60.

NuScale Power Stock Up 5.6 %

SMR traded up $0.93 during midday trading on Thursday, hitting $17.50. 2,202,932 shares of the company's stock traded hands, compared to its average volume of 8,283,903. 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 company has a market cap of $4.94 billion, a PE ratio of -18.42 and a beta of 1.64. The stock's fifty day simple moving average is $16.01 and its 200-day simple moving average is $20.10. NuScale Power Co. has a one year low of $5.50 and a one year high of $32.30.

About NuScale Power

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.