Allspring Global Investments Holdings LLC Makes New Investment in NuScale Power Co. (NYSE:SMR)

Allspring Global Investments Holdings LLC acquired a new position in NuScale Power Co. (NYSE:SMR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,100 shares of the company’s stock, valued at approximately $175,000.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of NuScale Power by 268.3% during the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after purchasing an additional 39,171 shares during the period. Avantax Advisory Services Inc. acquired a new position in shares of NuScale Power in the first quarter valued at $58,000. Resurgent Financial Advisors LLC boosted its stake in NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after buying an additional 7,400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in NuScale Power by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after buying an additional 4,014 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of NuScale Power in the 1st quarter valued at $98,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

NuScale Power Stock Down 0.7 %

Shares of NYSE SMR opened at $19.01 on Monday. NuScale Power Co. has a 1 year low of $1.81 and a 1 year high of $22.75. The firm’s 50-day moving average is $12.60 and its 200-day moving average is $10.25. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.74 billion, a PE ratio of -18.46 and a beta of 1.11.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. During the same period in the prior year, the firm posted ($0.13) EPS.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 490,595 shares of company stock worth $6,287,356. Company insiders own 1.96% of the company’s stock.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent research reports. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum lifted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.39.

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.