Meridian Wealth Management LLC Purchases New Stake in NuScale Power Corporation $SMR

Meridian Wealth Management LLC purchased a new stake in shares of NuScale Power Corporation (NYSE:SMR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,843 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds have also recently modified their holdings of SMR. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of 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 purchasing an additional 359 shares during the period. Harbour Investments Inc. raised its position in 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 during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in NuScale Power in the 2nd quarter worth approximately $61,000. Toth Financial Advisory Corp grew its position in shares of NuScale Power by 185.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company’s stock worth $68,000 after buying an additional 1,110 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of NuScale Power by 55.7% during the second quarter. IFP Advisors Inc now owns 1,745 shares of the company’s stock valued at $69,000 after buying an additional 624 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Insider Buying and Selling at NuScale Power

In related news, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 15,030,641 shares of company stock valued at $605,953,415. Corporate insiders own 1.96% of the company’s stock.

NuScale Power Price Performance

Shares of NYSE SMR opened at $21.57 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 $37.58 and a 200 day moving average of $36.59. The stock has a market cap of $6.44 billion, a P/E ratio of -7.54 and a beta of 2.03.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. During the same quarter last year, the company posted ($0.18) EPS. NuScale Power’s revenue for the quarter was up 1635.2% compared to the same quarter last year. Research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SMR shares. Royal Bank Of Canada dropped their price target on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research report on Monday. Zacks Research cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Wall Street Zen downgraded shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, BNP Paribas cut NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $37.50.

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.