MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in NuScale Power Co. (NYSE:SMR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NuScale Power Co. (NYSE:SMR) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 5,688,678 shares of the company’s stock after purchasing an additional 89,949 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in NuScale Power were worth $101,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC purchased a new position in NuScale Power in the 4th quarter valued at about $33,000. Venturi Wealth Management LLC lifted its stake in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after purchasing an additional 1,800 shares during the last quarter. Twin Tree Management LP purchased a new position in NuScale Power in the fourth quarter valued at about $42,000. Finally, Amalgamated Bank grew its stake in NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after purchasing an additional 986 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BTIG Research began coverage on NuScale Power in a research note on Friday, April 11th. They set a “buy” rating and a $20.00 target price for the company. UBS Group cut their price target on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Insider Transactions at NuScale Power

In related news, insider Clayton Scott sold 10,019 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the transaction, the insider now directly owns 86,965 shares in the company, valued at $1,459,272.70. This represents a 10.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 34,675 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the sale, the chief executive officer now directly owns 49,019 shares in the company, valued at $833,323. This represents a 41.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 158,047 shares of company stock worth $2,514,898. 1.27% of the stock is currently owned by company insiders.

NuScale Power Stock Up 2.9%

Shares of NuScale Power stock opened at $17.95 on Tuesday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $16.02 and a 200 day moving average price of $20.14. NuScale Power Co. has a fifty-two week low of $5.86 and a fifty-two week high of $32.30. The firm has a market cap of $5.07 billion, a P/E ratio of -18.90 and a beta of 1.62.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. On average, sell-side analysts forecast that NuScale Power Co. will post -0.73 earnings per share for the current fiscal year.

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.