Bank of New York Mellon Corp Buys 38,239 Shares of NuScale Power Co. (NYSE:SMR)

Bank of New York Mellon Corp lifted its stake in shares of NuScale Power Co. (NYSE:SMR) by 18.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 245,747 shares of the company’s stock after acquiring an additional 38,239 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of NuScale Power worth $4,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC lifted its position in NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power in the 3rd quarter worth approximately $44,000. Union Bancaire Privee UBP SA purchased a new stake in shares of NuScale Power in the 4th quarter valued at $67,000. Finally, KBC Group NV bought a new position in shares of NuScale Power during the 4th quarter valued at $70,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now owns 1,149 shares in the company, valued at $16,683.48. This trade represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,682 shares of company stock worth $12,840,747. Insiders own 1.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their target price on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.50.

NuScale Power Stock Performance

Shares of SMR opened at $16.63 on Wednesday. The company has a market cap of $4.70 billion, a price-to-earnings ratio of -17.50 and a beta of 1.58. The business’s fifty day simple moving average is $20.77 and its two-hundred day simple moving average is $19.09. NuScale Power Co. has a 12 month low of $0.13 and a 12 month high of $32.30. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

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.