Black Swift Group LLC Buys New Position in NuScale Power Corporation $SMR

Black Swift Group LLC bought a new stake in shares of NuScale Power Corporation (NYSE:SMR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,780 shares of the company’s stock, valued at approximately $585,000.

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of NuScale Power during the first quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in NuScale Power by 84.5% in the second 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 last quarter. Harbour Investments Inc. boosted its position in NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock worth $46,000 after purchasing an additional 203 shares during the last quarter. Stone House Investment Management LLC purchased a new position in NuScale Power in the first quarter worth $50,000. Finally, Geneos Wealth Management Inc. purchased a new position in NuScale Power in the first quarter worth $60,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares in the company, valued at $443,654,282.56. This represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 15,030,641 shares of company stock valued at $605,953,415. 1.27% of the stock is owned by corporate insiders.

NuScale Power Stock Up 6.0%

Shares of NYSE SMR opened at $37.76 on Thursday. The firm has a market capitalization of $10.76 billion, a P/E ratio of -31.73 and a beta of 2.03. The stock’s 50-day simple moving average is $39.41 and its two-hundred day simple moving average is $35.85. NuScale Power Corporation has a twelve month low of $11.08 and a twelve month high of $57.42.

NuScale Power (NYSE:SMR) last announced 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). The business had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. As a group, research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SMR. Citigroup reissued a “sell” rating and issued a $37.50 price objective (down previously from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. BNP Paribas cut NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. BNP Paribas Exane lowered NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 21st. Cantor Fitzgerald started coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. Finally, UBS Group boosted their target price on NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $37.73.

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.