Charles Schwab Investment Management Inc. Boosts Stake in NuScale Power Co. (NYSE:SMR)

Charles Schwab Investment Management Inc. increased its position in shares of NuScale Power Co. (NYSE:SMR - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 735,383 shares of the company's stock after purchasing an additional 58,135 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.29% of NuScale Power worth $13,185,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in NuScale Power in the third quarter worth $116,000. Quest Partners LLC increased its stake in NuScale Power by 52.4% in the 3rd quarter. Quest Partners LLC now owns 14,950 shares of the company's stock worth $173,000 after buying an additional 5,142 shares during the period. Intech Investment Management LLC bought a new stake in NuScale Power during the 3rd quarter valued at about $175,000. FORA Capital LLC bought a new position in NuScale Power in the 3rd quarter worth about $471,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power during the third quarter valued at approximately $44,000. 78.37% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the sale, the chief financial officer now owns 29,985 shares in the company, valued at approximately $470,764.50. This represents a 51.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Separately, UBS Group reduced their price objective on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th.

NuScale Power Stock Down 1.1 %

Shares of NYSE SMR traded down $0.21 during midday trading on Tuesday, reaching $18.67. 4,260,584 shares of the company's stock traded hands, compared to its average volume of 8,199,293. The company has a market cap of $5.27 billion, a price-to-earnings ratio of -19.65 and a beta of 1.58. NuScale Power Co. has a one year low of $0.13 and a one year 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 stock's 50 day simple moving average is $20.68 and its 200-day simple moving average is $19.39.

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.