Cookson Peirce & Co. Inc. Purchases 4,277 Shares of NuScale Power Corporation $SMR

Cookson Peirce & Co. Inc. raised its stake in NuScale Power Corporation (NYSE:SMR) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,203 shares of the company’s stock after purchasing an additional 4,277 shares during the period. Cookson Peirce & Co. Inc.’s holdings in NuScale Power were worth $2,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp increased its position in shares of NuScale Power by 23.3% during the second quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after acquiring an additional 9,016 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in NuScale Power by 31.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company’s stock valued at $2,734,000 after acquiring an additional 46,744 shares during the last quarter. Balboa Wealth Partners purchased a new position in NuScale Power in the second quarter valued at about $466,000. Fox Hill Wealth Management boosted its stake in NuScale Power by 29.1% in the second quarter. Fox Hill Wealth Management now owns 121,796 shares of the company’s stock valued at $4,818,000 after acquiring an additional 27,462 shares during the last quarter. Finally, MFG Wealth Management Inc. purchased a new position in NuScale Power in the second quarter valued at about $1,829,000. 78.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of research analyst reports. Bank of America reiterated an “underperform” rating and issued a $34.00 target price (down from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. Northland Securities assumed coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a “market perform” rating and a $35.00 price target on the stock. BNP Paribas Exane lowered shares of NuScale Power from a “neutral” rating to an “underperform” rating in a report on Tuesday. Citigroup reissued a “sell” rating and issued a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a report on Tuesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NuScale Power in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $37.73.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 15,048,847 shares of company stock valued at $606,761,579. 1.96% of the stock is owned by company insiders.

NuScale Power Stock Performance

SMR stock opened at $38.37 on Wednesday. NuScale Power Corporation has a 52 week low of $11.08 and a 52 week high of $57.42. The firm’s fifty day moving average is $38.42 and its 200 day moving average is $33.81. The firm has a market cap of $10.93 billion, a P/E ratio of -32.24 and a beta of 2.02.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, August 7th. The company reported ($0.13) 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 the consensus estimate of $10.49 million. As a group, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current 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.