L & S Advisors Inc Purchases New Shares in NuScale Power Co. (NYSE:SMR)

L & S Advisors Inc acquired a new position in shares of NuScale Power Co. (NYSE:SMR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 94,535 shares of the company’s stock, valued at approximately $1,105,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SMR. Swedbank AB acquired a new stake in shares of NuScale Power in the first quarter worth approximately $18,585,000. Van ECK Associates Corp purchased a new position in NuScale Power in the 2nd quarter valued at $7,600,000. Rheos Capital Works Inc. acquired a new stake in NuScale Power during the 1st quarter worth $1,328,000. Bank of New York Mellon Corp grew its holdings in shares of NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after buying an additional 131,570 shares during the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Price Performance

SMR stock opened at $9.09 on Wednesday. NuScale Power Co. has a 1 year low of $1.81 and a 1 year high of $16.91. The firm has a market capitalization of $2.21 billion, a P/E ratio of -10.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The business’s 50-day moving average is $9.77 and its two-hundred day moving average is $8.10.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The firm had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same period last year, the business earned ($0.13) EPS. Analysts anticipate that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 19,054 shares in the company, valued at $190,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Carl M. Fisher sold 12,302 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the transaction, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert K. Temple sold 50,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 19,054 shares in the company, valued at $190,540. The disclosure for this sale can be found here. In the last three months, insiders sold 86,544 shares of company stock valued at $809,536. Insiders own 1.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. CLSA initiated coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. B. Riley upped their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.63.

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.