BI Asset Management Fondsmaeglerselskab A S Makes New Investment in NuScale Power Corporation $SMR

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in NuScale Power Corporation (NYSE:SMR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 128,727 shares of the company’s stock, valued at approximately $4,634,000.

Several other large investors have also recently added to or reduced their stakes in the business. Harbour Investments Inc. boosted its stake in NuScale Power by 21.3% in the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock worth $46,000 after buying an additional 203 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of NuScale Power by 1.0% in the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company’s stock worth $824,000 after acquiring an additional 212 shares during the last quarter. Pasadena Private Wealth LLC increased its position in NuScale Power by 4.9% during the third quarter. Pasadena Private Wealth LLC now owns 6,147 shares of the company’s stock worth $221,000 after purchasing an additional 287 shares during the last quarter. Family Capital Management Inc. increased its position in NuScale Power by 3.5% during the third quarter. Family Capital Management Inc. now owns 8,682 shares of the company’s stock worth $313,000 after purchasing an additional 291 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in NuScale Power by 14.8% during the second quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company’s stock worth $95,000 after purchasing an additional 341 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SMR. Citigroup reiterated a “sell” rating and issued a $37.50 target price (down previously from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. UBS Group set a $20.00 price objective on NuScale Power in a report on Tuesday, November 25th. Cantor Fitzgerald began coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.19.

Insiders Place Their Bets

In other news, CFO Robert Ramsey Hamady sold 40,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. The trade was a 46.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

NuScale Power Stock Up 18.5%

Shares of SMR opened at $17.59 on Friday. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of -6.15 and a beta of 2.14. The business’s 50 day moving average is $18.22 and its two-hundred day moving average is $30.48. NuScale Power Corporation has a 52-week low of $11.08 and a 52-week high of $57.42.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The company had revenue of $8.24 million during the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm’s quarterly revenue was up 1635.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) EPS. On average, equities analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

NuScale Power Profile

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.