US Bancorp DE Makes New Investment in NuScale Power Co. (NYSE:SMR)

US Bancorp DE acquired a new position in NuScale Power Co. (NYSE:SMR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,643 shares of the company’s stock, valued at approximately $54,000.

A number of other hedge funds also recently bought and sold shares of SMR. Swedbank AB bought a new position in NuScale Power during the 1st quarter valued at about $18,585,000. Van ECK Associates Corp purchased a new position in shares of NuScale Power in the 2nd quarter worth approximately $7,600,000. Bank of New York Mellon Corp raised its stake in NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after buying an additional 137,382 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of NuScale Power by 244.7% during 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. Finally, International Assets Investment Management LLC raised its stake in shares of NuScale Power by 1,984.4% in the third quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock worth $1,328,000 after purchasing an additional 109,142 shares during the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Insider Transactions at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. The trade was a 25.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction on Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the sale, the insider now owns 14,054 shares in the company, valued at $134,496.78. This represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,293 shares of company stock worth $5,679,222. 1.96% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SMR has been the topic of several research reports. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

Shares of SMR stock opened at $23.01 on Monday. NuScale Power Co. has a 12 month low of $1.88 and a 12 month high of $27.54. The company has a market capitalization of $5.73 billion, a PE ratio of -24.22 and a beta of 1.12. The firm’s 50-day moving average is $15.50 and its two-hundred day moving average is $11.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.66.

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.