Zullo Investment Group Inc. Acquires New Shares in NuScale Power Corporation $SMR

Zullo Investment Group Inc. acquired a new stake in NuScale Power Corporation (NYSE:SMR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 6,205 shares of the company’s stock, valued at approximately $245,000.

A number of other large investors have also made changes to their positions in the company. Mengis Capital Management Inc. bought a new stake in shares of NuScale Power in the 2nd quarter valued at $201,000. IFP Advisors Inc increased its position in shares of NuScale Power by 55.7% in the 2nd quarter. IFP Advisors Inc now owns 1,745 shares of the company’s stock valued at $69,000 after buying an additional 624 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at $146,000. Clear Creek Financial Management LLC increased its position in shares of NuScale Power by 31.7% in the 2nd quarter. Clear Creek Financial Management LLC now owns 35,294 shares of the company’s stock valued at $1,396,000 after buying an additional 8,504 shares in the last quarter. Finally, Castle Rock Wealth Management LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at $352,000. Institutional investors own 78.37% of the company’s stock.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of the firm’s 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 transaction, the director owned 10,085,344 shares in the company, valued at $443,654,282.56. This trade represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 15,048,847 shares of company stock valued at $606,761,579. 1.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on SMR shares. BTIG Research cut shares of NuScale Power from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 25th. Northland Capmk upgraded NuScale Power to a “hold” rating in a report on Monday, July 7th. Barclays started 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. Bank of America reiterated an “underperform” rating and set a $34.00 target price (down previously from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. Finally, BNP Paribas upgraded NuScale Power to a “hold” rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and an average target price of $36.67.

NuScale Power Price Performance

Shares of NYSE SMR opened at $39.29 on Friday. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of -33.02 and a beta of 2.02. The business has a 50-day moving average of $37.96 and a 200-day moving average of $32.21. NuScale Power Corporation has a fifty-two week low of $11.08 and a fifty-two week high of $53.50.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $8.05 million during the quarter, compared to the consensus estimate 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, sell-side analysts expect that NuScale Power Corporation will post -0.73 EPS for the current year.

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.