TFC Financial Management Inc. Has $53,000 Stake in NuScale Power Corporation (NYSE:SMR)

TFC Financial Management Inc. reduced its holdings in shares of NuScale Power Corporation (NYSE:SMR) by 42.7% in the first quarter, HoldingsChannel.com reports. The fund owned 3,723 shares of the company’s stock after selling 2,778 shares during the quarter. TFC Financial Management Inc.’s holdings in NuScale Power were worth $53,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Samsung C&T Corp bought a new stake in NuScale Power in the fourth quarter worth approximately $46,745,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of NuScale Power during the 4th quarter worth approximately $22,823,000. Vanguard Group Inc. grew its position in shares of NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after buying an additional 635,271 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of NuScale Power in the 4th quarter valued at $7,628,000. Finally, TB Alternative Assets Ltd. acquired a new position in shares of NuScale Power during the 1st quarter valued at $5,938,000. 78.37% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at approximately $7,810,211.91. This represents a 6.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,278 shares of company stock worth $2,286,280. 1.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SMR has been the subject of several research analyst reports. Citigroup started coverage on shares of NuScale Power in a research note on Monday. They issued a “neutral” rating and a $46.00 price target for the company. UBS Group increased their price target on NuScale Power from $17.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a “neutral” rating in a report on Tuesday, May 20th. BTIG Research cut NuScale Power from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, CLSA set a $41.00 price objective on shares of NuScale Power and gave the stock an “outperform” rating in a report on Tuesday, May 27th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Moderate Buy” and an average target price of $29.38.

NuScale Power Stock Down 1.0%

Shares of NYSE:SMR opened at $38.29 on Friday. The business’s 50 day moving average is $27.46 and its 200 day moving average is $22.18. NuScale Power Corporation has a 12-month low of $6.88 and a 12-month high of $45.31. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of -27.95 and a beta of 2.00.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. The firm had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. As a group, equities research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.

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.