Bleakley Financial Group LLC Sells 31,130 Shares of NuScale Power Corporation $SMR

Bleakley Financial Group LLC decreased its position in NuScale Power Corporation (NYSE:SMR) by 41.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,181 shares of the company’s stock after selling 31,130 shares during the quarter. Bleakley Financial Group LLC’s holdings in NuScale Power were worth $1,748,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SMR. Harbour Investments Inc. raised its stake in shares of NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock worth $46,000 after acquiring an additional 203 shares during the last quarter. D.A. Davidson & CO. lifted its position in NuScale Power by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company’s stock valued at $824,000 after purchasing an additional 212 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after purchasing an additional 359 shares during the last quarter. Union Bancaire Privee UBP SA boosted its stake in shares of NuScale Power by 9.1% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company’s stock valued at $182,000 after purchasing an additional 386 shares during the last quarter. Finally, Albion Financial Group UT boosted its stake in shares of NuScale Power by 26.2% in the 2nd quarter. Albion Financial Group UT now owns 2,045 shares of the company’s stock valued at $81,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 78.37% of the company’s stock.

NuScale Power Stock Up 0.0%

SMR opened at $37.56 on Friday. NuScale Power Corporation has a twelve month low of $11.08 and a twelve month high of $57.42. The company has a 50-day simple moving average of $38.45 and a 200 day simple moving average of $34.15. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of -31.56 and a beta of 2.02.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. Sell-side analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SMR. UBS Group raised their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, August 11th. Canaccord Genuity Group lifted their price target on shares of NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Cantor Fitzgerald initiated coverage on shares of NuScale Power in a research note on Tuesday. They issued an “overweight” rating and a $55.00 target price for the company. Barclays began coverage on shares of NuScale Power in a research note on Monday, September 29th. They issued an “equal weight” rating and a $45.00 target price for the company. Finally, BNP Paribas Exane cut shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $37.73.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares of the company’s stock, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 15,048,847 shares of company stock worth $606,761,579 over the last three months. 1.27% of the stock is currently owned by insiders.

NuScale Power Company Profile

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.