Swedbank AB Boosts Position in NuScale Power Corporation $SMR

Swedbank AB raised its holdings in shares of NuScale Power Corporation (NYSE:SMR) by 36.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,502,300 shares of the company’s stock after acquiring an additional 400,240 shares during the quarter. Swedbank AB’s holdings in NuScale Power were worth $16,285,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in shares of NuScale Power in the first quarter worth $339,000. Stephens Inc. AR purchased a new stake in NuScale Power during the 1st quarter worth $124,000. Moran Wealth Management LLC boosted its position in NuScale Power by 262.4% during the 1st quarter. Moran Wealth Management LLC now owns 108,511 shares of the company’s stock worth $1,176,000 after purchasing an additional 78,566 shares during the period. PFG Investments LLC increased its holdings in NuScale Power by 135.9% in the 1st quarter. PFG Investments LLC now owns 26,697 shares of the company’s stock valued at $289,000 after purchasing an additional 15,380 shares in the last quarter. Finally, Baer Investment Advisory LLC acquired a new stake in NuScale Power in the 1st quarter valued at $456,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SMR shares. Citigroup reduced their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research note on Monday, May 11th. UBS Group dropped their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Northland Securities set a $19.00 price target on NuScale Power in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Finally, HSBC started coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Price Performance

NYSE:SMR opened at $9.05 on Friday. The firm has a 50-day moving average of $11.07 and a two-hundred day moving average of $13.19. The stock has a market cap of $3.31 billion, a P/E ratio of -3.10 and a beta of 2.24. NuScale Power Corporation has a 1-year low of $8.55 and a 1-year high of $57.42.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. The firm’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, equities analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.28% of the stock is owned by corporate insiders.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.