Bleakley Financial Group LLC Takes $764,000 Position in NuScale Power Co. (NYSE:SMR)

Bleakley Financial Group LLC bought a new stake in shares of NuScale Power Co. (NYSE:SMR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 42,596 shares of the company's stock, valued at approximately $764,000.

Other large investors have also recently bought and sold shares of the company. Canal Insurance CO raised its stake in NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company's stock valued at $2,501,000 after purchasing an additional 56,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock valued at $7,843,000 after buying an additional 460,487 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company's stock valued at $1,314,000 after buying an additional 86,454 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of NuScale Power by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company's stock valued at $1,930,000 after buying an additional 111,812 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of NuScale Power by 581.8% in the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company's stock valued at $1,371,000 after buying an additional 100,995 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Price Performance

Shares of SMR traded down $1.72 during trading hours on Thursday, hitting $24.69. The stock had a trading volume of 12,939,718 shares, compared to its average volume of 12,572,974. The company's fifty day moving average is $22.11 and its two-hundred day moving average is $17.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. NuScale Power Co. has a 52 week low of $2.47 and a 52 week high of $32.30. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of -25.98 and a beta of 1.51.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, NuScale Power has an average rating of "Moderate Buy" and an average price target of $11.42.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.96% of the company's stock.

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.