Balboa Wealth Partners Makes New $466,000 Investment in NuScale Power Corporation $SMR

Balboa Wealth Partners acquired a new position in NuScale Power Corporation (NYSE:SMR) in the 2nd quarter, Holdings Channel reports. The firm acquired 11,779 shares of the company’s stock, valued at approximately $466,000.

Other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp raised its holdings in NuScale Power by 23.3% in the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after purchasing an additional 9,016 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in NuScale Power by 31.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company’s stock worth $2,734,000 after purchasing an additional 46,744 shares in the last quarter. Fox Hill Wealth Management raised its holdings in NuScale Power by 29.1% in the 2nd quarter. Fox Hill Wealth Management now owns 121,796 shares of the company’s stock worth $4,818,000 after purchasing an additional 27,462 shares in the last quarter. MFG Wealth Management Inc. bought a new position in NuScale Power in the 2nd quarter worth $1,829,000. Finally, Castle Rock Wealth Management LLC bought a new position in NuScale Power in the 2nd quarter worth $352,000. 78.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SMR. Northland Capmk raised shares of NuScale Power to a “hold” rating in a research report on Monday, July 7th. BTIG Research downgraded shares of NuScale Power from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 25th. BNP Paribas Exane began coverage on shares of NuScale Power in a research report on Friday, July 25th. They issued a “neutral” rating and a $41.00 target price on the stock. Citigroup began coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a “neutral” rating and a $46.00 target price on the stock. Finally, Northland Securities began coverage on shares of NuScale Power in a research report on Monday, July 7th. They issued a “market perform” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.09.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director owned 10,085,344 shares in the company, valued at $443,654,282.56. The trade was a 19.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 15,048,847 shares of company stock valued at $606,761,579. Insiders own 1.96% of the company’s stock.

NuScale Power Price Performance

Shares of NuScale Power stock opened at $44.25 on Tuesday. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of -37.18 and a beta of 2.02. The firm’s 50-day moving average is $38.41 and its 200 day moving average is $33.78. NuScale Power Corporation has a 1 year low of $11.08 and a 1 year high of $57.42.

NuScale Power (NYSE:SMR) last announced its quarterly 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). The firm had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. On average, equities analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

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.