Newbridge Financial Services Group Inc. Grows Position in NuScale Power Co. (NYSE:SMR)

Newbridge Financial Services Group Inc. increased its position in NuScale Power Co. (NYSE:SMR) by 99.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,755 shares of the company’s stock after buying an additional 6,855 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in NuScale Power were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SMR. The Manufacturers Life Insurance Company increased its position in shares of NuScale Power by 37.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock valued at $345,000 after acquiring an additional 8,096 shares during the period. Truist Financial Corp purchased a new position in NuScale Power during the 2nd quarter valued at about $177,000. Park Avenue Securities LLC bought a new position in NuScale Power during the 3rd quarter valued at approximately $217,000. Handelsbanken Fonder AB lifted its holdings in NuScale Power by 68.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 24,200 shares of the company’s stock worth $280,000 after buying an additional 9,800 shares during the period. Finally, CWM LLC grew its position in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Craig Hallum upped their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.42.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

NuScale Power Price Performance

NuScale Power stock opened at $25.86 on Monday. NuScale Power Co. has a fifty-two week low of $2.47 and a fifty-two week high of $32.30. The stock’s 50 day simple moving average is $22.05 and its two-hundred day simple moving average is $17.17. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same quarter in the prior year, the firm earned ($0.26) earnings per share.

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.