Geode Capital Management LLC Has $21.19 Million Position in NuScale Power Co. (NYSE:SMR)

Geode Capital Management LLC increased its position in shares of NuScale Power Co. (NYSE:SMR) by 21.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,829,843 shares of the company’s stock after purchasing an additional 317,285 shares during the quarter. Geode Capital Management LLC’s holdings in NuScale Power were worth $21,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after acquiring an additional 154,368 shares during the period. Van ECK Associates Corp raised its stake in shares of NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after purchasing an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in NuScale Power by 212.4% in 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 boosted its stake in 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 buying an additional 128,012 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in 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 valued at $3,256,000 after buying an additional 137,382 shares during the period. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Trading Down 10.6 %

Shares of NuScale Power stock opened at $19.51 on Friday. The stock has a market capitalization of $4.98 billion, a P/E ratio of -20.54 and a beta of 1.33. NuScale Power Co. has a 12-month low of $1.88 and a 12-month high of $32.30. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a 50-day simple moving average of $22.77 and a 200 day simple moving average of $14.93.

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,610 shares of company stock valued at $3,528,780. Corporate insiders own 1.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMR. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

About NuScale Power

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.