KG&L Capital Management LLC Invests $365,000 in NuScale Power Corporation (NYSE:SMR)

KG&L Capital Management LLC bought a new stake in NuScale Power Corporation (NYSE:SMR) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 25,770 shares of the company’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in NuScale Power by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock worth $191,000 after buying an additional 656 shares during the period. Farther Finance Advisors LLC grew its stake in shares of NuScale Power by 6.9% during the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company’s stock valued at $189,000 after acquiring an additional 833 shares in the last quarter. Amalgamated Bank increased its position in shares of NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after acquiring an additional 986 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock worth $159,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in NuScale Power by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 21,130 shares of the company’s stock valued at $379,000 after purchasing an additional 1,314 shares during the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 26,345 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the sale, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. This represents a 6.01% decrease in their position. 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 three months. 1.27% of the stock is owned by company insiders.

NuScale Power Stock Down 10.5%

Shares of NYSE:SMR opened at $38.70 on Thursday. The company’s 50-day moving average price is $26.99 and its 200 day moving average price is $22.08. The company has a market cap of $11.01 billion, a PE ratio of -28.25 and a beta of 2.00. NuScale Power Corporation has a fifty-two week low of $6.88 and a fifty-two week high of $45.31.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a “neutral” rating in a research report on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a “buy” rating in a research report on Thursday, May 29th. UBS Group increased their price target 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. BTIG Research lowered NuScale Power from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, CLSA set a $41.00 price objective on NuScale Power and gave the company an “outperform” rating in a research note on Tuesday, May 27th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

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.