Rakuten Securities Inc. Boosts Position in NuScale Power Corporation (NYSE:SMR)

Rakuten Securities Inc. grew its stake in shares of NuScale Power Corporation (NYSE:SMR) by 36.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,213 shares of the company’s stock after buying an additional 2,723 shares during the period. Rakuten Securities Inc.’s holdings in NuScale Power were worth $145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SMR. Allspring Global Investments Holdings LLC increased its holdings in shares of NuScale Power by 467.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company’s stock worth $1,537,000 after purchasing an additional 70,638 shares during the period. Rhumbline Advisers increased its stake in NuScale Power by 9.3% in the 4th quarter. Rhumbline Advisers now owns 111,404 shares of the company’s stock worth $1,997,000 after acquiring an additional 9,485 shares during the last quarter. Allworth Financial LP raised its holdings in shares of NuScale Power by 781.5% in the 4th quarter. Allworth Financial LP now owns 8,815 shares of the company’s stock valued at $158,000 after acquiring an additional 7,815 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of NuScale Power in the 4th quarter valued at about $303,000. Finally, Truist Financial Corp boosted its position in shares of NuScale Power by 52.5% during the 4th quarter. Truist Financial Corp now owns 26,140 shares of the company’s stock valued at $469,000 after acquiring an additional 9,000 shares during the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Price Performance

Shares of SMR opened at $39.23 on Wednesday. NuScale Power Corporation has a 1 year low of $6.88 and a 1 year high of $45.31. The stock has a 50 day simple moving average of $24.13 and a two-hundred day simple moving average of $21.49. The firm has a market cap of $11.16 billion, a P/E ratio of -28.64 and a beta of 2.00.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. The firm had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. On average, equities analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief technology officer now owns 516,207 shares of the company’s stock, valued at $7,810,211.91. This represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,278 shares of company stock worth $2,286,280 in the last 90 days. 1.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SMR. UBS Group upped their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Canaccord Genuity Group set a $35.00 price target on shares of NuScale Power and gave the stock a “buy” rating in a research note on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the company a “neutral” rating in a research report on Tuesday, May 20th. BTIG Research reaffirmed a “buy” rating on shares of NuScale Power in a report on Tuesday, May 13th. Finally, CLSA set a $41.00 target price on NuScale Power and gave the company an “outperform” rating in a research note on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NuScale Power presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

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.