Meridian Wealth Management LLC Acquires Shares of 5,843 NuScale Power Corporation $SMR

Meridian Wealth Management LLC bought a new position in NuScale Power Corporation (NYSE:SMR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,843 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors have also recently made changes to their positions in SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after acquiring an additional 1,705,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power during the first quarter valued at $14,271,000. Geode Capital Management LLC lifted its holdings in shares of NuScale Power by 25.2% during the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after purchasing an additional 574,295 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in NuScale Power by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock worth $126,598,000 after buying an additional 512,618 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Insiders Place Their Bets

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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 15,030,641 shares of company stock worth $605,953,415 in the last quarter. 1.96% of the stock is currently owned by insiders.

NuScale Power Trading Up 2.4%

Shares of SMR stock opened at $21.57 on Wednesday. NuScale Power Corporation has a 12 month low of $11.08 and a 12 month high of $57.42. The stock has a market cap of $6.44 billion, a P/E ratio of -7.54 and a beta of 2.03. The company has a 50 day simple moving average of $37.58 and a two-hundred day simple moving average of $36.59.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SMR. UBS Group upped 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 raised their target price on shares of NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Royal Bank Of Canada cut their target price on shares of NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Barclays began coverage on NuScale Power in a report on Monday, September 29th. They set an “equal weight” rating and a $45.00 price target on the stock. Finally, Zacks Research downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $37.50.

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.