Albion Financial Group UT Buys 425 Shares of NuScale Power Corporation $SMR

Albion Financial Group UT grew its stake in NuScale Power Corporation (NYSE:SMR) by 26.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,045 shares of the company’s stock after buying an additional 425 shares during the quarter. Albion Financial Group UT’s holdings in NuScale Power were worth $81,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SMR. Thurston Springer Miller Herd & Titak Inc. boosted its stake in NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after purchasing an additional 359 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of NuScale Power by 185.0% in the second quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company’s stock valued at $68,000 after purchasing an additional 1,110 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of NuScale Power during the second quarter worth about $69,000. Quantbot Technologies LP bought a new position in shares of NuScale Power during the first quarter worth about $27,000. Finally, Financial Management Professionals Inc. grew its holdings in shares of NuScale Power by 514.3% during the second quarter. Financial Management Professionals Inc. now owns 3,219 shares of the company’s stock worth $127,000 after buying an additional 2,695 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SMR. Northland Securities initiated coverage on NuScale Power in a research report on Monday, July 7th. They set a “market perform” rating and a $35.00 price target for the company. UBS Group increased their target price on shares of NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Citigroup initiated coverage on shares of NuScale Power in a research note on Monday, June 23rd. They issued a “neutral” rating and a $46.00 price target on the stock. BNP Paribas upgraded shares of NuScale Power to a “hold” rating in a research note on Friday, July 25th. Finally, Canaccord Genuity Group raised their price objective on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.09.

NuScale Power Price Performance

NuScale Power stock opened at $37.94 on Monday. The company’s 50-day moving average is $39.88 and its 200-day moving average is $30.94. The firm has a market capitalization of $10.81 billion, a PE ratio of -31.88 and a beta of 2.03. NuScale Power Corporation has a fifty-two week low of $10.71 and a fifty-two week high of $53.50.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. As a group, analysts expect that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the transaction, the director directly owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the completion of the transaction, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,647,211.97. This represents a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,485,950 shares of company stock valued at $388,621,483 over the last quarter. 1.96% of the stock is currently owned by corporate insiders.

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.