Moran Wealth Management LLC Raises Stock Position in NuScale Power Corporation $SMR

Moran Wealth Management LLC lifted its stake in NuScale Power Corporation (NYSE:SMR) by 262.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 108,511 shares of the company’s stock after acquiring an additional 78,566 shares during the period. Moran Wealth Management LLC’s holdings in NuScale Power were worth $1,176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strategic Advocates LLC purchased a new stake in NuScale Power in the third quarter valued at $25,000. Nemes Rush Group LLC purchased a new position in shares of NuScale Power during the third quarter worth about $25,000. Triumph Capital Management purchased a new position in shares of NuScale Power during the third quarter worth about $37,000. EverSource Wealth Advisors LLC increased its position in shares of NuScale Power by 187.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company’s stock worth $67,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in shares of NuScale Power by 177,500.0% during the third quarter. Ancora Advisors LLC now owns 1,776 shares of the company’s stock worth $64,000 after purchasing an additional 1,775 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Trading Down 9.7%

Shares of NYSE SMR traded down $0.93 during midday trading on Tuesday, reaching $8.68. 10,916,751 shares of the company were exchanged, compared to its average volume of 30,397,814. NuScale Power Corporation has a 1 year low of $8.73 and a 1 year high of $57.42. The stock has a fifty day simple moving average of $11.26 and a 200 day simple moving average of $13.34. The stock has a market cap of $3.17 billion, a P/E ratio of -2.97 and a beta of 2.24.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. The firm’s revenue was down 95.8% on a year-over-year basis. As a group, analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HSBC assumed coverage on NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price for the company. Bank of America began coverage on NuScale Power in a research note on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price objective for the company. Northland Securities set a $19.00 price objective on NuScale Power in a report on Monday, May 11th. Citigroup lowered their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. Finally, The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, NuScale Power presently has an average rating of “Hold” and an average target price of $15.92.

Insider Activity

In other news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total value of $162,945,000.00. Following the transaction, the director owned 26,436,472 shares of the company’s stock, valued at approximately $319,088,217.04. The trade was a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last quarter. Insiders own 1.28% of the company’s stock.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.