Rockefeller Capital Management L.P. Takes Position in NuScale Power Corporation $SMR

Rockefeller Capital Management L.P. purchased a new stake in shares of NuScale Power Corporation (NYSE:SMR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,101 shares of the company’s stock, valued at approximately $2,615,000.

Several other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC increased its position in NuScale Power by 72.3% in the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock worth $3,614,000 after purchasing an additional 38,347 shares during the period. Thoroughbred Financial Services LLC acquired a new position in NuScale Power during the 2nd quarter valued at about $1,189,000. Creative Planning boosted its stake in shares of NuScale Power by 253.0% in the 2nd quarter. Creative Planning now owns 74,339 shares of the company’s stock valued at $2,941,000 after purchasing an additional 53,282 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of NuScale Power during the 2nd quarter worth approximately $632,000. Finally, Meridian Wealth Management LLC bought a new stake in shares of NuScale Power during the second quarter worth approximately $231,000. Institutional investors own 78.37% of the company’s stock.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent research reports. BNP Paribas cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Barclays initiated coverage on NuScale Power in a research report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target on the stock. UBS Group upped their price objective on NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research note on Monday, November 17th. Finally, Wall Street Zen lowered NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $37.50.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total transaction of $3,479,082.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 15,030,641 shares of company stock worth $605,953,415. 1.20% of the stock is currently owned by corporate insiders.

NuScale Power Trading Down 0.6%

Shares of NuScale Power stock opened at $18.58 on Monday. The stock’s fifty day simple moving average is $36.63 and its 200 day simple moving average is $36.64. The company has a market capitalization of $5.55 billion, a PE ratio of -6.50 and a beta of 2.03. NuScale Power Corporation has a 12 month low of $11.08 and a 12 month high of $57.42.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The business had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm’s revenue was up 1635.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share. Analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

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.