Park Avenue Securities LLC Takes $217,000 Position in NuScale Power Co. (NYSE:SMR)

Park Avenue Securities LLC bought a new position in NuScale Power Co. (NYSE:SMR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,760 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. bought a new position in NuScale Power during the 1st quarter valued at approximately $58,000. International Assets Investment Management LLC bought a new stake in NuScale Power in the second quarter valued at $64,000. TFC Financial Management Inc. purchased a new position in NuScale Power during the 2nd quarter valued at $75,000. Resurgent Financial Advisors LLC raised its holdings in NuScale Power by 100.0% in the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of NuScale Power in the 1st quarter worth about $98,000. 15.28% of the stock is currently owned by institutional investors.

NuScale Power Stock Performance

SMR stock opened at $13.92 on Tuesday. NuScale Power Co. has a 12-month low of $1.81 and a 12-month high of $16.91. The stock’s 50 day simple moving average is $9.87 and its 200 day simple moving average is $8.95. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.38 billion, a PE ratio of -16.38 and a beta of 1.25.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same period last year, the firm posted ($0.13) EPS.

Insider Activity

In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares of the company’s stock, valued at approximately $190,540. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Robert K. Temple sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 owns 14,054 shares of the company’s stock, valued at $134,496.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,729 shares of company stock valued at $4,178,595 over the last three months. Insiders own 1.96% of the company’s stock.

Analysts Set New Price Targets

SMR has been the subject of a number of research reports. B. Riley increased their price target on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. CLSA initiated coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. Finally, Craig Hallum started coverage on NuScale Power in a research note on Thursday, September 26th. They issued a “buy” rating and a $16.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.68.

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.