Chung Wu Investment Group LLC Makes New $218,000 Investment in NuScale Power Corporation $SMR

Chung Wu Investment Group LLC acquired a new stake in shares of NuScale Power Corporation (NYSE:SMR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,500 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of NuScale Power by 6.1% in the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company’s stock valued at $126,598,000 after acquiring an additional 512,618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock worth $96,880,000 after purchasing an additional 1,153,158 shares during the period. Swedbank AB raised its position in NuScale Power by 6.7% in the 1st quarter. Swedbank AB now owns 2,402,125 shares of the company’s stock worth $34,014,000 after purchasing an additional 149,875 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after purchasing an additional 1,705,411 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of NuScale Power during the first quarter valued at approximately $14,271,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Northland Capmk raised shares of NuScale Power to a “hold” rating in a research note on Monday, July 7th. BNP Paribas Exane started coverage on shares of NuScale Power in a report on Friday, July 25th. They issued a “neutral” rating and a $41.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of NuScale Power in a research report on Saturday, September 27th. UBS Group increased their price target on shares of NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, August 11th. Finally, Northland Securities started coverage on NuScale Power in a research report on Monday, July 7th. They set a “market perform” rating and a $35.00 price target for the company. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, NuScale Power presently has a consensus rating of “Hold” and an average target price of $36.67.

Insider Buying and Selling

In other news, Director Corp Fluor sold 2,372,563 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 11,624,569 shares of company stock valued at $468,599,880. 1.96% of the stock is currently owned by corporate insiders.

NuScale Power Stock Up 1.3%

SMR opened at $40.03 on Monday. The firm’s fifty day simple moving average is $38.88 and its two-hundred day simple moving average is $31.65. NuScale Power Corporation has a 52-week low of $11.08 and a 52-week high of $53.50. The company has a market cap of $11.40 billion, a price-to-earnings ratio of -33.64 and a beta of 2.02.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. On average, research analysts forecast that NuScale Power Corporation will post -0.73 EPS 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.