Tidal Investments LLC Invests $118,000 in NuScale Power Co. (NYSE:SMR)

Tidal Investments LLC bought a new stake in NuScale Power Co. (NYSE:SMR) in the third quarter, Holdings Channel reports. The institutional investor bought 10,176 shares of the company’s stock, valued at approximately $118,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMR. Bank of New York Mellon Corp increased its holdings in 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 valued at $3,256,000 after buying an additional 137,382 shares during the period. Principal Financial Group Inc. bought a new stake in NuScale Power in the second quarter valued at about $123,000. International Assets Investment Management LLC acquired a new position in NuScale Power in the second quarter worth about $64,000. Commonwealth Equity Services LLC lifted its stake in NuScale Power by 85.9% during the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock worth $917,000 after purchasing an additional 36,236 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in NuScale Power during the second quarter valued at approximately $7,600,000. 78.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SMR. CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

Insider Activity

In other news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % 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 68,558 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $182,983.08. This represents a 82.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,610 shares of company stock worth $3,528,780. 1.96% of the stock is owned by corporate insiders.

NuScale Power Trading Up 6.5 %

SMR stock opened at $21.01 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -22.12 and a beta of 1.33. The business has a fifty day moving average price of $22.67 and a 200 day moving average price of $14.76. NuScale Power Co. has a fifty-two week low of $1.88 and a fifty-two week high of $32.30.

About NuScale Power

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.