Cookson Peirce & Co. Inc. Buys 4,277 Shares of NuScale Power Corporation $SMR

Cookson Peirce & Co. Inc. grew its stake in shares of NuScale Power Corporation (NYSE:SMR) by 7.9% during the second quarter, HoldingsChannel reports. The firm owned 58,203 shares of the company’s stock after purchasing an additional 4,277 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in NuScale Power were worth $2,303,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Harbour Investments Inc. boosted its stake in shares of NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock valued at $46,000 after purchasing an additional 203 shares in the last quarter. D.A. Davidson & CO. boosted its stake in NuScale Power by 1.0% during the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company’s stock worth $824,000 after acquiring an additional 212 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after acquiring an additional 359 shares in the last quarter. Union Bancaire Privee UBP SA boosted its stake in NuScale Power by 9.1% during the second quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company’s stock worth $182,000 after acquiring an additional 386 shares in the last quarter. Finally, Albion Financial Group UT boosted its stake in NuScale Power by 26.2% during the second quarter. Albion Financial Group UT now owns 2,045 shares of the company’s stock worth $81,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

NuScale Power Trading Down 13.2%

Shares of NYSE SMR opened at $38.37 on Wednesday. The firm has a 50 day moving average of $38.42 and a 200 day moving average of $33.81. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of -32.24 and a beta of 2.02. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $57.42.

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

Insider Buying and Selling at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of the company’s 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 owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 15,048,847 shares of company stock worth $606,761,579 in the last three months. 1.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on SMR shares. Northland Securities started coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a “market perform” rating and a $35.00 price objective on the stock. Bank of America reaffirmed an “underperform” rating and issued a $34.00 target price (down from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. Citigroup reaffirmed a “sell” rating and issued a $37.50 target price (down from $46.00) on shares of NuScale Power in a report on Tuesday. BNP Paribas Exane cut shares of NuScale Power from a “neutral” rating to an “underperform” rating in a report on Tuesday. Finally, Barclays started coverage on shares of NuScale Power in a report on Monday, September 29th. They set an “equal weight” rating and a $45.00 price objective for the company. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $37.73.

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.