KLP Kapitalforvaltning AS Grows Stake in NuScale Power Corporation (NYSE:SMR)

KLP Kapitalforvaltning AS lifted its stake in shares of NuScale Power Corporation (NYSE:SMR) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,200 shares of the company’s stock after buying an additional 5,800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in NuScale Power were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SMR. Samsung C&T Corp purchased a new stake in shares of NuScale Power during the 4th quarter worth approximately $46,745,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of NuScale Power during the 4th quarter worth approximately $22,823,000. Vanguard Group Inc. lifted its position in shares of NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after buying an additional 635,271 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of NuScale Power during the 4th quarter worth approximately $7,628,000. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of NuScale Power in the 1st quarter valued at about $5,938,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Insiders Place Their Bets

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 transaction, the insider owned 86,965 shares of the company’s stock, valued at $1,459,272.70. This represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,278 shares of company stock valued at $1,786,990. 1.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SMR. BNP Paribas raised NuScale Power to a “hold” rating in a research report on Friday, July 25th. CLSA set a $41.00 price objective on NuScale Power and gave the company an “outperform” rating in a research note on Tuesday, May 27th. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Northland Securities began coverage on NuScale Power in a research note on Monday, July 7th. They issued a “market perform” rating and a $35.00 price objective for the company. Finally, Northland Capmk upgraded NuScale Power to a “hold” rating in a research note on Monday, July 7th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

NuScale Power Trading Up 3.1%

NuScale Power stock opened at $50.48 on Thursday. NuScale Power Corporation has a twelve month low of $6.88 and a twelve month high of $53.50. The stock has a 50 day moving average of $38.99 and a two-hundred day moving average of $25.85. The stock has a market capitalization of $14.36 billion, a price-to-earnings ratio of -36.85 and a beta of 2.04.

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