Benjamin Edwards Inc. Makes New Investment in NuScale Power Co. (NYSE:SMR)

Benjamin Edwards Inc. bought a new position in shares of NuScale Power Co. (NYSE:SMR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,940 shares of the company’s stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after purchasing an additional 585,292 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 460,487 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NuScale Power by 57.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after purchasing an additional 128,012 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after acquiring an additional 137,382 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of NuScale Power in the 3rd quarter worth about $2,895,000. 78.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMR. 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 report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

Shares of SMR opened at $23.93 on Tuesday. The firm has a 50-day moving average price of $20.83 and a 200 day moving average price of $13.73. The firm has a market capitalization of $6.11 billion, a PE ratio of -25.19 and a beta of 1.33. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. NuScale Power Co. has a 52-week low of $1.88 and a 52-week high of $32.30.

Insider Activity

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert K. Temple sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $134,496.78. This trade represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 427,237 shares of company stock worth $6,053,065. Corporate insiders own 1.96% 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.