Peregrine Asset Advisers Inc. Buys New Stake in NuScale Power Co. (NYSE:SMR)

Peregrine Asset Advisers Inc. purchased a new position in shares of NuScale Power Co. (NYSE:SMR) in the fourth quarter, Holdings Channel.com reports. The firm purchased 12,000 shares of the company’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds have also made changes to their positions in SMR. Mirae Asset Global Investments Co. Ltd. lifted its position in NuScale Power by 54.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company’s stock valued at $15,774,000 after acquiring an additional 1,132,131 shares during the last quarter. FMR LLC boosted its position in shares of NuScale Power by 11.2% in the 3rd quarter. FMR LLC now owns 2,983,460 shares of the company’s stock valued at $14,619,000 after purchasing an additional 301,548 shares during the period. Vanguard Group Inc. boosted its position in shares of NuScale Power by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after purchasing an additional 204,505 shares during the period. Raymond James & Associates purchased a new position in NuScale Power during the 3rd quarter worth approximately $439,000. Finally, Mirabella Financial Services LLP acquired a new position in NuScale Power during the third quarter worth approximately $319,000. 15.28% of the stock is owned by institutional investors and hedge funds.

NuScale Power Stock Down 2.9 %

NYSE:SMR traded down $0.17 during midday trading on Tuesday, reaching $5.66. The stock had a trading volume of 2,006,797 shares, compared to its average volume of 4,098,229. The stock has a market cap of $1.33 billion, a P/E ratio of -7.38 and a beta of 0.98. NuScale Power Co. has a 12-month low of $1.81 and a 12-month high of $11.21. The firm has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $3.76.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $4.56 million during the quarter, compared to analysts’ expectations of $1.75 million. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. On average, sell-side analysts anticipate that NuScale Power Co. will post -0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMR has been the subject of several research analyst reports. UBS Group increased their price objective on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Canaccord Genuity Group started coverage on shares of NuScale Power in a research report on Monday, January 29th. They set a “buy” rating and a $4.25 price objective on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $4.50 target price (down from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group increased their target price on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, NuScale Power has an average rating of “Hold” and an average price target of $7.75.

Insider Buying and Selling at NuScale Power

In other news, insider Clayton Scott sold 7,191 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the transaction, the insider now directly owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Clayton Scott sold 7,191 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the completion of the transaction, the insider now owns 43,549 shares in the company, valued at approximately $263,035.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Robert K. Temple sold 8,873 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $53,592.92. Following the sale, the general counsel now directly owns 42,860 shares in the company, valued at approximately $258,874.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,899 shares of company stock valued at $590,771. 1.96% of the stock is owned by corporate insiders.

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.