Verition Fund Management LLC boosted its position in shares of NuScale Power Co. (NYSE:SMR - Free Report) by 319.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,476 shares of the company's stock after acquiring an additional 86,454 shares during the quarter. Verition Fund Management LLC's holdings in NuScale Power were worth $1,314,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its holdings in NuScale Power by 28.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 28,683 shares of the company's stock worth $332,000 after purchasing an additional 6,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NuScale Power by 57.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company's stock worth $4,074,000 after buying an additional 128,012 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power in the third quarter valued at approximately $44,000. FORA Capital LLC purchased a new position in NuScale Power in the third quarter worth approximately $471,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after acquiring an additional 460,487 shares in the last quarter. 15.28% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Robert K. Temple sold 5,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at $134,496.78. This represents a 26.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The shares were 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 owns 3,801 shares in the company, 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 three months, insiders sold 427,237 shares of company stock valued at $6,053,065. Insiders own 1.96% of the company's stock.
Analyst Ratings Changes
SMR has been the subject of several recent analyst reports. CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 price objective for the company. Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.
Read Our Latest Report on NuScale Power
NuScale Power Stock Performance
NYSE:SMR traded up $1.35 during trading hours on Friday, reaching $25.70. 8,153,678 shares of the company's stock were exchanged, compared to its average volume of 11,705,248. NuScale Power Co. has a 1-year low of $1.88 and a 1-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 firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -27.05 and a beta of 1.33. The company has a 50-day moving average of $20.59 and a 200 day moving average of $13.57.
About NuScale Power
(
Free Report)
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.
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