Handelsbanken Fonder AB Increases Position in NuScale Power Corporation $SMR

Handelsbanken Fonder AB lifted its stake in NuScale Power Corporation (NYSE:SMR) by 209.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,000 shares of the company’s stock after acquiring an additional 73,100 shares during the period. Handelsbanken Fonder AB’s holdings in NuScale Power were worth $1,083,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC grew its stake in NuScale Power by 1,550.9% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after purchasing an additional 1,675 shares during the last quarter. Assetmark Inc. lifted its position in shares of NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after buying an additional 2,309 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of NuScale Power in the 4th quarter valued at about $30,000. Strategic Advocates LLC boosted its holdings in shares of NuScale Power by 233.0% in the 4th quarter. Strategic Advocates LLC now owns 2,321 shares of the company’s stock valued at $33,000 after buying an additional 1,624 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in shares of NuScale Power by 32.4% in the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after buying an additional 592 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NuScale Power

In other news, COO Carl M. Fisher sold 18,771 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total transaction of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares of the company’s stock, valued at $1,073,760.48. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.28% of the company’s stock.

NuScale Power Stock Up 7.6%

Shares of NuScale Power stock opened at $9.30 on Thursday. The firm has a market capitalization of $4.00 billion, a P/E ratio of -3.18 and a beta of 2.26. The company has a 50 day moving average price of $9.37 and a 200 day moving average price of $11.30. NuScale Power Corporation has a 52 week low of $7.21 and a 52 week high of $57.42.

NuScale Power (NYSE:SMR) last released its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. NuScale Power’s revenue was down 99.1% compared to the same quarter last year. As a group, research analysts anticipate that NuScale Power Corporation will post -0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Citigroup lowered their target price on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a research note on Thursday, August 6th. Canaccord Genuity Group cut their price target on shares of NuScale Power from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research report on Friday, May 8th. Finally, Barclays decreased their price objective on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and an average price target of $13.50.

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.