International Assets Investment Management LLC Increases Stake in NuScale Power Co. (NYSE:SMR)

International Assets Investment Management LLC grew its position in NuScale Power Co. (NYSE:SMR) by 1,984.4% in the third quarter, HoldingsChannel.com reports. The firm owned 114,642 shares of the company’s stock after acquiring an additional 109,142 shares during the period. International Assets Investment Management LLC’s holdings in NuScale Power were worth $1,328,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SMR. Swedbank AB purchased a new stake in shares of NuScale Power in the first quarter worth about $18,585,000. Van ECK Associates Corp bought a new position in NuScale Power in the 2nd quarter worth about $7,600,000. Bank of New York Mellon Corp lifted its holdings in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares during the period. Wedbush Securities Inc. increased its position in NuScale Power by 84.9% during the 2nd quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock valued at $2,205,000 after purchasing an additional 86,600 shares during the period. Finally, SG Americas Securities LLC raised its stake in NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after buying an additional 131,570 shares in the last quarter. Institutional investors own 15.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SMR. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. Craig Hallum increased their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, NuScale Power has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

Insider Buying and Selling at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 478,293 shares of company stock valued at $6,179,222 in the last quarter. Corporate insiders own 1.96% of the company’s stock.

NuScale Power Price Performance

SMR stock opened at $18.47 on Tuesday. The business has a 50 day simple moving average of $12.81 and a 200-day simple moving average of $10.34. The firm has a market capitalization of $4.60 billion, a PE ratio of -17.93 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. NuScale Power Co. has a 1 year low of $1.81 and a 1 year high of $22.75.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same quarter last year, the business posted ($0.13) EPS.

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.