Essex Private Wealth Management LLC Purchases New Holdings in NuScale Power Co. (NYSE:SMR)

Essex Private Wealth Management LLC acquired a new position in shares of NuScale Power Co. (NYSE:SMR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $33,000. NuScale Power makes up 0.1% of Essex Private Wealth Management LLC’s holdings, making the stock its 28th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of NuScale Power during the fourth quarter worth approximately $25,000. Ameritas Investment Partners Inc. lifted its stake in shares of NuScale Power by 80.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock valued at $30,000 after purchasing an additional 1,968 shares during the period. Arizona State Retirement System bought a new position in shares of NuScale Power in the 4th quarter worth $34,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of NuScale Power during the fourth quarter worth $36,000. Finally, Itau Unibanco Holding S.A. bought a new stake in NuScale Power in the second quarter valued at about $37,000. 15.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SMR has been the subject of a number of recent research reports. Canaccord Genuity Group initiated coverage on NuScale Power in a report on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective for the company. Canaccord Genuity Group boosted 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. UBS Group upped their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.75.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.06% of the company’s stock.

NuScale Power Trading Down 1.5 %

NYSE SMR traded down $0.08 on Thursday, hitting $5.34. 3,071,178 shares of the company’s stock were exchanged, compared to its average volume of 4,488,289. NuScale Power Co. has a 52 week low of $1.81 and a 52 week high of $11.21. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -6.68 and a beta of 1.06. The stock has a 50-day moving average of $4.46 and a 200-day moving average of $3.75.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. The firm had revenue of $4.56 million during the quarter, compared to analyst estimates of $1.75 million. As a group, analysts predict that NuScale Power Co. will post -0.41 earnings per share for the current year.

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.