Park Avenue Securities LLC Trims Holdings in NuScale Power Corporation $SMR

Park Avenue Securities LLC decreased its position in shares of NuScale Power Corporation (NYSE:SMR) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,789 shares of the company’s stock after selling 662 shares during the quarter. Park Avenue Securities LLC’s holdings in NuScale Power were worth $1,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SMR. Thurston Springer Miller Herd & Titak Inc. raised its position in NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after buying an additional 359 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of NuScale Power in the second quarter worth $69,000. Quantbot Technologies LP acquired a new position in NuScale Power during the first quarter valued at $27,000. NBC Securities Inc. lifted its position in NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock valued at $46,000 after purchasing an additional 3,309 shares during the period. Finally, Stone House Investment Management LLC purchased a new stake in NuScale Power in the first quarter valued at $50,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Price Performance

NuScale Power stock opened at $37.60 on Friday. The stock has a market capitalization of $10.71 billion, a PE ratio of -31.60 and a beta of 2.03. The business has a 50 day simple moving average of $40.13 and a 200-day simple moving average of $30.58. NuScale Power Corporation has a 12 month low of $10.71 and a 12 month high of $53.50.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. On average, equities research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In related news, COO Carl M. Fisher sold 18,206 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the transaction, the chief operating officer owned 90,864 shares in the company, valued at $4,033,452.96. This represents a 16.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of NuScale Power stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,647,211.97. The trade was a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,158,260 shares of company stock valued at $298,578,328 over the last 90 days. Corporate insiders own 1.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SMR. Citigroup began coverage on NuScale Power in a research note on Monday, June 23rd. They set a “neutral” rating and a $46.00 price objective for the company. BNP Paribas Exane assumed coverage on NuScale Power in a research report on Friday, July 25th. They set a “neutral” rating and a $41.00 price target for the company. Bank of America started coverage on NuScale Power in a research report on Thursday, August 21st. They issued a “neutral” rating and a $36.00 price objective on the stock. Northland Capmk raised shares of NuScale Power to a “hold” rating in a report on Monday, July 7th. Finally, UBS Group boosted their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.09.

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.