IFG Advisory LLC Buys New Shares in NuScale Power Corporation $SMR

IFG Advisory LLC bought a new stake in NuScale Power Corporation (NYSE:SMR) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 5,375 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after buying an additional 359 shares during the period. Harbour Investments Inc. lifted its holdings 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 worth $46,000 after acquiring an additional 203 shares during the period. Toth Financial Advisory Corp lifted its holdings in shares of NuScale Power by 185.0% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company’s stock worth $68,000 after acquiring an additional 1,110 shares during the period. IFP Advisors Inc lifted its holdings in shares of NuScale Power by 55.7% during the 2nd quarter. IFP Advisors Inc now owns 1,745 shares of the company’s stock worth $69,000 after acquiring an additional 624 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of NuScale Power during the 2nd quarter worth about $69,000. Institutional investors own 78.37% of the company’s stock.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total value 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 approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 15,030,641 shares of company stock valued at $605,953,415 over the last ninety days. Insiders own 1.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SMR. Canaccord Genuity Group raised their price target on shares of NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Barclays began coverage on shares of NuScale Power in a research note on Monday, September 29th. They set an “equal weight” rating and a $45.00 price target for the company. Bank of America restated an “underperform” rating and set a $34.00 price target (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. BNP Paribas cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NuScale Power in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Reduce” and a consensus target price of $37.73.

NuScale Power Trading Down 12.5%

NYSE:SMR opened at $35.71 on Wednesday. NuScale Power Corporation has a 1 year low of $11.08 and a 1 year high of $57.42. The firm has a 50 day moving average of $39.35 and a 200-day moving average of $35.83. The stock has a market capitalization of $10.17 billion, a P/E ratio of -30.01 and a beta of 2.03.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $10.49 million. As a group, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal 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.