Van ECK Associates Corp Acquires 585,292 Shares of NuScale Power Co. (NYSE:SMR)

Van ECK Associates Corp raised its position in NuScale Power Co. (NYSE:SMR - Free Report) by 90.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,235,457 shares of the company's stock after acquiring an additional 585,292 shares during the quarter. Van ECK Associates Corp owned approximately 0.50% of NuScale Power worth $14,307,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SMR. SG Americas Securities LLC lifted its holdings in NuScale Power by 268.3% in the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company's stock worth $286,000 after buying an additional 39,171 shares during the period. Avantax Advisory Services Inc. bought a new stake in NuScale Power in the first quarter valued at $58,000. Resurgent Financial Advisors LLC increased its position in NuScale Power by 100.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company's stock valued at $79,000 after purchasing an additional 7,400 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in NuScale Power by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company's stock worth $106,000 after purchasing an additional 4,014 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of NuScale Power in the 1st quarter worth about $98,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SMR shares. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 price target on the stock. Craig Hallum raised their target price on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. One equities 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, NuScale Power currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.

Insider Activity at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares of the company's stock, valued at approximately $190,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 50,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 19,054 shares in the company, valued at approximately $190,540. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 478,293 shares of company stock valued at $6,179,222. 1.96% of the stock is owned by corporate insiders.

NuScale Power Stock Up 13.8 %

Shares of NYSE SMR traded up $2.59 during trading on Wednesday, reaching $21.41. The company had a trading volume of 10,489,044 shares, compared to its average volume of 5,911,635. The business's 50-day moving average is $13.01 and its 200 day moving average is $10.44. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.33 billion, a PE ratio of -19.80 and a beta of 1.12. NuScale Power Co. has a 12-month low of $1.81 and a 12-month high of $22.75.

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

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.