Van ECK Associates Corp Has $14.31 Million Position in NuScale Power Co. (NYSE:SMR)

Van ECK Associates Corp raised its stake in shares of NuScale Power Co. (NYSE:SMR) by 90.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,235,457 shares of the company’s stock after acquiring an additional 585,292 shares during the quarter. Van ECK Associates Corp’s holdings in NuScale Power were worth $14,307,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Indie Asset Partners LLC boosted its position in NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after buying an additional 1,250 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of NuScale Power by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after acquiring an additional 4,014 shares in the last quarter. US Bancorp DE bought a new position in NuScale Power in the 3rd quarter worth approximately $54,000. CWM LLC lifted its holdings in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in NuScale Power in the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 50,000 shares of the company’s 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 transaction, the insider now owns 19,054 shares in the company, valued at $190,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction 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 sale, the insider now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 478,293 shares of company stock worth $6,179,222. Company insiders own 1.96% of the company’s stock.

NuScale Power Trading Up 1.9 %

NYSE:SMR opened at $18.83 on Wednesday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. NuScale Power Co. has a 1-year low of $1.81 and a 1-year high of $22.75. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -18.28 and a beta of 1.12. The business’s 50-day moving average price is $12.81 and its two-hundred day moving average price is $10.34.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SMR. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. Craig Hallum upped their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.39.

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.