Wedbush Securities Inc. Raises Stock Holdings in NuScale Power Co. (NYSE:SMR)

Wedbush Securities Inc. grew its stake in shares of NuScale Power Co. (NYSE:SMR) by 84.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,600 shares of the company’s stock after acquiring an additional 86,600 shares during the quarter. Wedbush Securities Inc. owned about 0.08% of NuScale Power worth $2,205,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SMR. Quest Partners LLC purchased a new stake in NuScale Power during the 2nd quarter valued at $115,000. Rhumbline Advisers boosted its position in NuScale Power by 62.9% in the second quarter. Rhumbline Advisers now owns 104,341 shares of the company’s stock worth $1,220,000 after purchasing an additional 40,305 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of NuScale Power during the 2nd quarter valued at about $7,600,000. Commonwealth Equity Services LLC increased its position in shares of NuScale Power by 85.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock valued at $917,000 after purchasing an additional 36,236 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in NuScale Power during the second quarter valued at approximately $64,000. 15.28% of the stock is currently owned by institutional investors.

NuScale Power Stock Up 8.6 %

SMR opened at $7.58 on Tuesday. The company has a market capitalization of $1.89 billion, a PE ratio of -8.92 and a beta of 1.22. The firm has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $7.85. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. NuScale Power Co. has a 52 week low of $1.81 and a 52 week high of $16.91.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same period in the previous year, the firm earned ($0.13) EPS. Analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, B. Riley raised their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.15.

Insiders Place Their Bets

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at $460,294.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the transaction, the insider now owns 19,054 shares of the company’s stock, valued at approximately $190,540. The disclosure for this sale can be found here. Insiders sold 81,544 shares of company stock valued at $761,686 in the last three months. Corporate insiders own 1.96% of the company’s stock.

NuScale Power Company 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.