Family Capital Management Inc. Invests $332,000 in NuScale Power Corporation $SMR

Family Capital Management Inc. purchased a new position in shares of NuScale Power Corporation (NYSE:SMR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,391 shares of the company’s stock, valued at approximately $332,000.

Several other hedge funds also recently modified their holdings of SMR. Quantbot Technologies LP acquired a new position in shares of NuScale Power during the 1st quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after purchasing an additional 359 shares during the last quarter. Harbour Investments Inc. grew its stake in NuScale Power by 21.3% in the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock valued at $46,000 after buying an additional 203 shares during the last quarter. Stone House Investment Management LLC acquired a new position in NuScale Power in the 1st quarter valued at $50,000. Finally, Geneos Wealth Management Inc. acquired a new position in NuScale Power in the 1st quarter valued at $60,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

Analyst Ratings Changes

SMR has been the topic of a number of research analyst reports. BNP Paribas lowered shares of NuScale Power to an “underperform” rating in a research note on Tuesday. 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 on the stock. BNP Paribas Exane lowered shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday. Canaccord Genuity Group raised their target price 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. Finally, Citigroup reiterated a “sell” rating and issued a $37.50 target price (down from $46.00) on shares of NuScale Power in a research note on Tuesday. Three 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. According to data from MarketBeat, NuScale Power has an average rating of “Reduce” and an average target price of $37.73.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were 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 directly owned 10,085,344 shares of the company’s stock, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 15,048,847 shares of company stock worth $606,761,579. 1.96% of the stock is currently owned by company insiders.

NuScale Power Price Performance

NYSE SMR opened at $38.37 on Wednesday. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of -32.24 and a beta of 2.02. The company’s fifty day moving average is $38.42 and its two-hundred day moving average is $33.81. NuScale Power Corporation has a 52-week low of $11.08 and a 52-week high of $57.42.

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