Kingswood Wealth Advisors LLC Cuts Position in NuScale Power Corporation $SMR

Kingswood Wealth Advisors LLC lessened its position in shares of NuScale Power Corporation (NYSE:SMR) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 35,386 shares of the company’s stock after selling 900 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in NuScale Power were worth $1,400,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after buying an additional 359 shares in the last quarter. Union Bancaire Privee UBP SA boosted its holdings in shares of NuScale Power by 9.1% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company’s stock worth $182,000 after purchasing an additional 386 shares during the period. Albion Financial Group UT boosted its holdings in shares of NuScale Power by 26.2% in the 2nd quarter. Albion Financial Group UT now owns 2,045 shares of the company’s stock worth $81,000 after purchasing an additional 425 shares during the period. Deutsche Bank AG boosted its holdings in shares of NuScale Power by 0.9% in the 1st quarter. Deutsche Bank AG now owns 76,082 shares of the company’s stock worth $1,077,000 after purchasing an additional 686 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of NuScale Power by 6.9% in the 1st quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company’s stock worth $189,000 after purchasing an additional 833 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Price Performance

Shares of NYSE:SMR opened at $39.18 on Wednesday. The business’s 50-day moving average is $38.50 and its 200 day moving average is $31.87. NuScale Power Corporation has a 1 year low of $11.08 and a 1 year high of $53.50. The firm has a market capitalization of $11.16 billion, a P/E ratio of -32.92 and a beta of 2.02.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (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 for the quarter, compared to analyst estimates of $10.49 million. On average, analysts expect that NuScale Power Corporation will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

SMR has been the subject of a number of recent research reports. UBS Group lifted their target price on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. BNP Paribas raised NuScale Power to a “hold” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of NuScale Power in a research note on Saturday, September 27th. BNP Paribas Exane began coverage on NuScale Power in a research note on Friday, July 25th. They set a “neutral” rating and a $41.00 price target for the company. Finally, Northland Securities initiated coverage on NuScale Power in a research note on Monday, July 7th. They set a “market perform” rating and a $35.00 price target for the company. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, NuScale Power presently has an average rating of “Hold” and an average price target of $36.67.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 854,033 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $42.41, for a total transaction of $36,219,539.53. Following the sale, the director owned 908,761 shares in the company, valued at approximately $38,540,554.01. The trade was a 48.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 14,140,086 shares of company stock worth $569,889,872. 1.96% of the stock is currently owned by 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.