Franklin Resources Inc. Takes $555,000 Position in NuScale Power Co. (NYSE:SMR)

Franklin Resources Inc. bought a new position in NuScale Power Co. (NYSE:SMR - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 47,967 shares of the company's stock, valued at approximately $555,000.

Several other hedge funds have also bought and sold shares of SMR. Bank of New York Mellon Corp lifted its position in NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock valued at $3,256,000 after acquiring an additional 137,382 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of NuScale Power during the second quarter valued at approximately $123,000. International Assets Investment Management LLC bought a new stake in NuScale Power during the second quarter worth $64,000. Commonwealth Equity Services LLC lifted its stake in NuScale Power by 85.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company's stock valued at $917,000 after acquiring an additional 36,236 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in NuScale Power during the 2nd quarter worth $7,600,000. Institutional investors and hedge funds own 78.37% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SMR shares. Craig Hallum boosted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They issued an "outperform" rating and a $11.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Stock Performance

SMR traded down $0.28 during midday trading on Tuesday, reaching $17.93. The company had a trading volume of 7,122,629 shares, compared to its average volume of 6,590,206. NuScale Power Co. has a 12-month low of $1.88 and a 12-month high of $32.30. The business has a 50-day moving average price of $22.75 and a two-hundred day moving average price of $15.04. The stock has a market cap of $4.58 billion, a PE ratio of -18.87 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 115,866 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the sale, the insider now owns 14,054 shares of the company's stock, valued at $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company's stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,610 shares of company stock valued at $3,528,780. Company 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.