Evanson Asset Management LLC Acquires 7,986 Shares of NuScale Power Co. (NYSE:SMR)

Evanson Asset Management LLC lifted its holdings in NuScale Power Co. (NYSE:SMR) by 44.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,000 shares of the company’s stock after acquiring an additional 7,986 shares during the period. Evanson Asset Management LLC’s holdings in NuScale Power were worth $138,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of NuScale Power in the 4th quarter valued at about $25,000. Sloy Dahl & Holst LLC bought a new stake in NuScale Power in the fourth quarter worth about $33,000. Essex Private Wealth Management LLC bought a new stake in NuScale Power in the fourth quarter worth about $33,000. Arizona State Retirement System bought a new stake in NuScale Power in the fourth quarter worth about $34,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in NuScale Power in the fourth quarter worth about $36,000. Institutional investors own 15.28% of the company’s stock.

NuScale Power Stock Up 9.2 %

NuScale Power stock opened at $10.95 on Wednesday. The company has a 50 day moving average price of $7.28 and a 200-day moving average price of $5.02. NuScale Power Co. has a fifty-two week low of $1.81 and a fifty-two week high of $11.21.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). The firm had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. As a group, analysts predict that NuScale Power Co. will post -0.64 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, CTO Jose N. Reyes, Jr. sold 15,776 shares of NuScale Power stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $95,287.04. Following the transaction, the chief technology officer now directly owns 478,306 shares of the company’s stock, valued at $2,888,968.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other NuScale Power news, General Counsel Robert K. Temple sold 8,873 shares of NuScale Power stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $53,592.92. Following the transaction, the general counsel now directly owns 42,860 shares of the company’s stock, valued at $258,874.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 15,776 shares of NuScale Power stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $95,287.04. Following the completion of the transaction, the chief technology officer now directly owns 478,306 shares in the company, valued at $2,888,968.24. The disclosure for this sale can be found here. Insiders have sold a total of 56,131 shares of company stock valued at $339,745 over the last ninety days. 1.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on SMR shares. Canaccord Genuity Group raised their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wells Fargo & Company reissued an “underweight” rating and issued a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Finally, UBS Group lifted their price target on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, NuScale Power has a consensus rating of “Hold” and a consensus price target of $7.75.

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.