Stifel Financial Corp Raises Stake in NuScale Power Co. (NYSE:SMR)

Stifel Financial Corp lifted its position in shares of NuScale Power Co. (NYSE:SMR) by 581.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 118,355 shares of the company’s stock after buying an additional 100,995 shares during the period. Stifel Financial Corp’s holdings in NuScale Power were worth $1,371,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SMR. Canal Insurance CO lifted its stake in shares of NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC boosted its stake in NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after buying an additional 86,454 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in NuScale Power in the 3rd quarter worth about $277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NuScale Power by 57.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock valued at $4,074,000 after buying an additional 128,012 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 277,610 shares of company stock worth $4,428,780 over the last ninety days. 1.96% of the stock is owned by company insiders.

NuScale Power Stock Up 4.0 %

SMR opened at $19.77 on Friday. NuScale Power Co. has a 1 year low of $1.88 and a 1 year high of $32.30. The firm has a 50 day moving average price of $22.36 and a 200 day moving average price of $14.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market cap of $5.05 billion, a PE ratio of -20.81 and a beta of 1.33.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SMR shares. Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.