KG&L Capital Management LLC Makes New Investment in NuScale Power Corporation (NYSE:SMR)

KG&L Capital Management LLC acquired a new stake in shares of NuScale Power Corporation (NYSE:SMR) in the first quarter, Holdings Channel reports. The fund acquired 25,770 shares of the company’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in shares of NuScale Power in the 4th quarter valued at approximately $33,000. Venturi Wealth Management LLC lifted its holdings 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 valued at $35,000 after purchasing an additional 1,500 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of NuScale Power in the fourth quarter valued at $42,000. NBC Securities Inc. boosted its position in shares of NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock worth $46,000 after buying an additional 3,309 shares during the period. Finally, Amalgamated Bank grew its holdings in shares of NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after buying an additional 986 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief technology officer now directly owns 516,207 shares of the company’s stock, valued at $7,810,211.91. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $20,632.92. This trade represents a 56.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,278 shares of company stock worth $2,286,280 over the last three months. 1.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SMR. BTIG Research lowered shares of NuScale Power from a “buy” rating to a “neutral” rating in a research note on Wednesday. Citigroup started coverage on shares of NuScale Power in a report on Monday. They set a “neutral” rating and a $46.00 price target on the stock. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a “buy” rating in a report on Thursday, May 29th. UBS Group lifted their price objective on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.38.

NuScale Power Stock Performance

NYSE:SMR opened at $38.70 on Thursday. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of -28.25 and a beta of 2.00. The company has a 50-day moving average of $26.99 and a 200-day moving average of $22.08. NuScale Power Corporation has a 52 week low of $6.88 and a 52 week high of $45.31.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. The company had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. Sell-side analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current 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.