EVR Research LP Sells 50,000 Shares of NuScale Power Corporation $SMR

by · The Cerbat Gem

EVR Research LP cut its stake in NuScale Power Corporation (NYSE:SMR – Free Report) by 35.7% during the second quarter, HoldingsChannel reports. The firm owned 90,000 shares of the company’s stock after selling 50,000 shares during the period. NuScale Power accounts for about 1.5% of EVR Research LP’s holdings, making the stock its 18th largest position. EVR Research LP’s holdings in NuScale Power were worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its position in NuScale Power by 35.8% in the 1st quarter. LPL Financial LLC now owns 273,394 shares of the company’s stock valued at $3,871,000 after buying an additional 72,098 shares during the period. US Bancorp DE raised its stake in shares of NuScale Power by 33.0% during the first quarter. US Bancorp DE now owns 10,969 shares of the company’s stock valued at $155,000 after acquiring an additional 2,722 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of NuScale Power by 6.1% in the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock valued at $126,598,000 after purchasing an additional 512,618 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in NuScale Power by 15.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 847,869 shares of the company’s stock worth $12,006,000 after purchasing an additional 112,486 shares during the period. Finally, Deutsche Bank AG raised its position in NuScale Power by 0.9% during the 1st quarter. Deutsche Bank AG now owns 76,082 shares of the company’s stock valued at $1,077,000 after purchasing an additional 686 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the 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 completion of the sale, the director directly owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 15,040,000 shares of company stock worth $605,749,702. Corporate insiders own 1.20% of the company’s stock.

NuScale Power Stock Down 13.5%

NYSE SMR opened at $18.37 on Friday. NuScale Power Corporation has a 52 week low of $11.08 and a 52 week high of $57.42. The company has a 50 day moving average price of $30.86 and a 200 day moving average price of $36.11. The firm has a market cap of $5.48 billion, a PE ratio of -6.42 and a beta of 2.09.

NuScale Power (NYSE:SMR – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The firm had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.NuScale Power’s revenue for the quarter was up 1635.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) earnings per share. On average, equities research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SMR has been the topic of several research reports. BNP Paribas lowered NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. BNP Paribas Exane lowered shares of NuScale Power from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 21st. Canaccord Genuity Group increased their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. 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 note on Tuesday, October 21st. Finally, Barclays initiated coverage on NuScale Power in a report on Monday, September 29th. They set an “equal weight” rating and a $45.00 target price for the company. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, NuScale Power presently has a consensus rating of “Reduce” and an average target price of $36.04.

Get Our Latest Analysis on SMR

About NuScale Power

(Free Report)

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.

Further Reading

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