Vanguard Group Inc. Buys 204,505 Shares of NuScale Power Co. (NYSE:SMR)

Vanguard Group Inc. raised its position in shares of NuScale Power Co. (NYSE:SMR - Free Report) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,536,389 shares of the company's stock after buying an additional 204,505 shares during the quarter. Vanguard Group Inc. owned about 2.39% of NuScale Power worth $27,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMR. FMR LLC grew its holdings in shares of NuScale Power by 11.2% during the third quarter. FMR LLC now owns 2,983,460 shares of the company's stock valued at $14,619,000 after purchasing an additional 301,548 shares during the last quarter. Raymond James & Associates bought a new position in NuScale Power in the 3rd quarter worth approximately $439,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in NuScale Power by 54.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company's stock worth $15,774,000 after buying an additional 1,132,131 shares in the last quarter. Swiss National Bank grew its holdings in NuScale Power by 17.2% in the 3rd quarter. Swiss National Bank now owns 62,600 shares of the company's stock worth $307,000 after buying an additional 9,200 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in NuScale Power by 66.9% in the 3rd quarter. Van ECK Associates Corp now owns 158,470 shares of the company's stock worth $777,000 after buying an additional 63,519 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company's stock.

NuScale Power Price Performance

Shares of NYSE:SMR traded down $0.05 on Friday, reaching $5.27. 2,872,697 shares of the company traded hands, compared to its average volume of 8,868,416. NuScale Power Co. has a fifty-two week low of $1.81 and a fifty-two week high of $11.21. The company's 50 day moving average is $4.50 and its 200-day moving average is $3.74. The stock has a market capitalization of $1.23 billion, a PE ratio of -6.59 and a beta of 1.06.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The company had revenue of $4.56 million for the quarter, compared to analyst estimates of $1.75 million. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. As a group, analysts expect that NuScale Power Co. will post -0.41 EPS for the current year.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SMR. Wells Fargo & Company reissued an "underweight" rating and issued a $4.50 price objective (down from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Canaccord Genuity Group began coverage on NuScale Power in a research note on Monday, January 29th. They set a "buy" rating and a $4.25 price target for the company. Canaccord Genuity Group increased their price target on NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Finally, UBS Group increased their price target on NuScale Power from $2.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $7.75.

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.