NuScale Power Co. (NYSE:SMR) Shares Acquired by Canal Insurance CO

Canal Insurance CO increased its holdings in NuScale Power Co. (NYSE:SMR - Free Report) by 35.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,000 shares of the company's stock after purchasing an additional 56,000 shares during the period. Canal Insurance CO owned approximately 0.09% of NuScale Power worth $2,501,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. US Bancorp DE purchased a new stake in NuScale Power in the 3rd quarter worth about $54,000. CWM LLC lifted its stake in shares of 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 acquiring an additional 5,191 shares during the last quarter. International Assets Investment Management LLC purchased a new position in NuScale Power during the 2nd quarter valued at $64,000. TFC Financial Management Inc. bought a new position in NuScale Power in the 2nd quarter valued at $75,000. Finally, Fortitude Family Office LLC purchased a new stake in NuScale Power in the second quarter worth $98,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Stock Up 13.8 %

NYSE SMR traded up $2.59 during trading on Wednesday, reaching $21.41. 10,474,003 shares of the company's stock traded hands, compared to its average volume of 5,911,635. NuScale Power Co. has a 12-month low of $1.81 and a 12-month high of $22.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -19.80 and a beta of 1.12. The company's 50 day simple moving average is $13.01 and its two-hundred day simple moving average is $10.44.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SMR. Craig Hallum boosted their target price 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. CLSA initiated coverage on shares of 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 investment 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.39.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the transaction, the insider now owns 14,054 shares in the company, valued at $134,496.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert K. Temple sold 144,627 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at $153,188.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert K. Temple sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now owns 14,054 shares of the company's stock, valued at approximately $134,496.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 478,293 shares of company stock worth $6,179,222 in the last three months. 1.96% of the stock is owned by insiders.

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.