Swedbank AB Cuts Holdings in NuScale Power Co. (NYSE:SMR)

Swedbank AB reduced its stake in NuScale Power Co. (NYSE:SMR - Free Report) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,252,250 shares of the company's stock after selling 1,249,200 shares during the period. Swedbank AB owned 0.88% of NuScale Power worth $40,383,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SMR. KBC Group NV acquired a new position in shares of NuScale Power in the fourth quarter valued at approximately $70,000. Union Bancaire Privee UBP SA bought a new stake in shares of NuScale Power in the fourth quarter valued at about $67,000. Kingswood Wealth Advisors LLC bought a new position in NuScale Power during the fourth quarter worth about $265,000. Toth Financial Advisory Corp boosted its holdings in NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock valued at $38,000 after purchasing an additional 1,800 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in shares of NuScale Power by 291.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 292,833 shares of the company's stock worth $5,250,000 after purchasing an additional 217,998 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Price Performance

Shares of NuScale Power stock traded up $1.27 during midday trading on Thursday, hitting $23.27. 9,323,405 shares of the company traded hands, compared to its average volume of 11,883,416. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of -24.59 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm's fifty day moving average price is $22.65 and its 200-day moving average price is $16.59. NuScale Power Co. has a 12 month low of $2.45 and a 12 month high of $32.30.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same quarter in the prior year, the firm earned ($0.26) EPS.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

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

About NuScale Power

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.