Caitong International Asset Management Co. Ltd Cuts Stake in NuScale Power Corporation $SMR

Caitong International Asset Management Co. Ltd trimmed its holdings in shares of NuScale Power Corporation (NYSE:SMR) by 53.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,607 shares of the company’s stock after selling 8,580 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in NuScale Power were worth $301,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after acquiring an additional 359 shares during the last quarter. Harbour Investments Inc. grew its stake in NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock worth $46,000 after purchasing an additional 203 shares in the last quarter. Toth Financial Advisory Corp grew its stake in NuScale Power by 185.0% in the second quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company’s stock worth $68,000 after purchasing an additional 1,110 shares in the last quarter. IFP Advisors Inc grew its stake in NuScale Power by 55.7% in the second quarter. IFP Advisors Inc now owns 1,745 shares of the company’s stock worth $69,000 after purchasing an additional 624 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in NuScale Power in the second quarter worth about $69,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Price Performance

Shares of SMR stock opened at $37.92 on Friday. NuScale Power Corporation has a 12-month low of $11.08 and a 12-month high of $57.42. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of -31.87 and a beta of 2.02. The business has a 50 day simple moving average of $38.40 and a 200 day simple moving average of $33.98.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMR. Northland Securities began coverage on NuScale Power in a research note on Monday, July 7th. They issued a “market perform” rating and a $35.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of NuScale Power in a research note on Wednesday, October 8th. Royal Bank Of Canada began coverage on NuScale Power in a research note on Monday, September 15th. They issued a “sector perform” rating and a $35.00 target price for the company. Cantor Fitzgerald began coverage on NuScale Power in a research note on Tuesday. They issued an “overweight” rating and a $55.00 target price for the company. Finally, Citigroup restated a “sell” rating and issued a $37.50 target price (down from $46.00) on shares of NuScale Power in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, NuScale Power has a consensus rating of “Reduce” and an average price target of $37.73.

Insider Activity

In other news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 15,048,847 shares of company stock worth $606,761,579. 1.27% of the stock is currently owned by company insiders.

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.