Onyx Bridge Wealth Group LLC Acquires Shares of 5,415 NuScale Power Corporation $SMR

Onyx Bridge Wealth Group LLC acquired a new stake in NuScale Power Corporation (NYSE:SMR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,415 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Family Capital Management Inc. purchased a new stake in NuScale Power in the 2nd quarter valued at approximately $332,000. Cookson Peirce & Co. Inc. boosted its holdings in NuScale Power by 7.9% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 58,203 shares of the company’s stock valued at $2,303,000 after purchasing an additional 4,277 shares in the last quarter. Brookstone Capital Management purchased a new stake in NuScale Power in the 2nd quarter valued at approximately $433,000. D.A. Davidson & CO. boosted its holdings in NuScale Power by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company’s stock valued at $824,000 after purchasing an additional 212 shares in the last quarter. Finally, Balboa Wealth Partners purchased a new stake in NuScale Power in the 2nd quarter valued at approximately $466,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 87,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 15,048,847 shares of company stock valued at $606,761,579. 1.27% of the stock is currently owned by corporate insiders.

NuScale Power Stock Performance

SMR stock opened at $34.67 on Thursday. NuScale Power Corporation has a 1 year low of $11.08 and a 1 year high of $57.42. The stock’s 50 day moving average price is $38.36 and its 200 day moving average price is $33.82. The firm has a market cap of $9.88 billion, a P/E ratio of -29.13 and a beta of 2.02.

NuScale Power (NYSE:SMR) last posted its 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). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The company had revenue of $8.05 million during the quarter, compared to analysts’ expectations of $10.49 million. On average, research analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on NuScale Power in a research note on Tuesday. They set an “overweight” rating and a $55.00 price target on the stock. BNP Paribas Exane lowered NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday. Bank of America reissued an “underperform” rating and set a $34.00 price target (down previously from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Northland Capmk raised NuScale Power to a “hold” rating in a research note on Monday, July 7th. Finally, UBS Group boosted their price target on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, NuScale Power has an average rating of “Reduce” and a consensus target price of $37.73.

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.