Cadent Capital Advisors LLC Makes New $325,000 Investment in NuScale Power Corporation (NYSE:SMR)

Cadent Capital Advisors LLC acquired a new stake in shares of NuScale Power Corporation (NYSE:SMR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,963 shares of the company’s stock, valued at approximately $325,000.

Other institutional investors have also recently made changes to their positions in the company. Kaizen Financial Strategies bought a new position in NuScale Power during the first quarter valued at approximately $204,000. Raymond James Financial Inc. bought a new position in shares of NuScale Power during the 4th quarter valued at approximately $2,755,000. Allspring Global Investments Holdings LLC grew its holdings in shares of NuScale Power by 467.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company’s stock valued at $1,537,000 after purchasing an additional 70,638 shares in the last quarter. HighTower Advisors LLC increased its position in NuScale Power by 51.0% in the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company’s stock worth $328,000 after purchasing an additional 6,175 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in NuScale Power by 2,980.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company’s stock worth $66,000 after purchasing an additional 3,576 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 34,675 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the sale, the chief executive officer now directly owns 49,019 shares of the company’s stock, valued at $833,323. The trade was a 41.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,278 shares of company stock valued at $2,286,280 in the last quarter. 1.96% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on SMR. BTIG Research reiterated a “buy” rating on shares of NuScale Power in a research report on Tuesday, May 13th. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the company a “neutral” rating in a report on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a “buy” rating in a research note on Thursday, May 29th. CLSA set a $41.00 price objective on NuScale Power and gave the company an “outperform” rating in a research report on Tuesday, May 27th. Finally, UBS Group lifted their target price on NuScale Power from $17.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

NuScale Power Trading Down 7.7%

Shares of NYSE:SMR opened at $39.23 on Wednesday. NuScale Power Corporation has a 12 month low of $6.88 and a 12 month high of $45.31. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of -28.64 and a beta of 2.00. The firm’s 50-day moving average is $24.13 and its 200 day moving average is $21.49.

NuScale Power (NYSE:SMR) last released its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The firm had revenue of $13.38 million for the quarter, compared to analysts’ expectations of $1.46 million. As a group, equities analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

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.