10,411 Shares in NuScale Power Co. (NYSE:SMR) Purchased by Arizona State Retirement System

Arizona State Retirement System acquired a new position in NuScale Power Co. (NYSE:SMR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,411 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC bought a new position in NuScale Power in the 4th quarter worth about $25,000. Raymond James Financial Services Advisors Inc. purchased a new position in NuScale Power during the 4th quarter worth approximately $36,000. Vanguard Group Inc. grew its holdings in shares of NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after buying an additional 204,505 shares in the last quarter. McGowan Group Asset Management Inc. increased its holdings in shares of NuScale Power by 11.7% in the 3rd quarter. McGowan Group Asset Management Inc. now owns 105,279 shares of the company’s stock valued at $516,000 after purchasing an additional 10,993 shares during the period. Finally, Portland Investment Counsel Inc. acquired a new position in NuScale Power in the 3rd quarter valued at approximately $74,000. 15.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on SMR shares. Wells Fargo & Company restated an “underweight” rating and issued a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Canaccord Genuity Group began coverage on NuScale Power in a research report on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective for the company. Canaccord Genuity Group boosted their price objective on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, UBS Group raised their target price on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, NuScale Power has an average rating of “Hold” and an average price target of $7.75.

NuScale Power Stock Up 1.6 %

Shares of SMR opened at $4.93 on Tuesday. The company has a 50-day moving average price of $4.76 and a two-hundred day moving average price of $3.73. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.16 and a beta of 1.06. NuScale Power Co. has a 12 month low of $1.81 and a 12 month high of $11.21.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The company had revenue of $4.56 million during the quarter, compared to analyst estimates of $1.75 million. NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. Equities research analysts expect that NuScale Power Co. will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.06% of the company’s stock.

NuScale Power 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.