Gables Capital Management Inc. Sells 2,700 Shares of NuScale Power Corporation $SMR

Gables Capital Management Inc. lowered its position in shares of NuScale Power Corporation (NYSE:SMR) by 8.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,700 shares of the company’s stock after selling 2,700 shares during the period. Gables Capital Management Inc.’s holdings in NuScale Power were worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Balboa Wealth Partners bought a new position in shares of NuScale Power during the second quarter worth approximately $466,000. Stratos Wealth Partners LTD. bought a new position in shares of NuScale Power during the second quarter worth approximately $219,000. TFC Financial Management Inc. increased its stake in shares of NuScale Power by 14.0% during the second quarter. TFC Financial Management Inc. now owns 4,245 shares of the company’s stock worth $168,000 after purchasing an additional 522 shares during the period. Harbour Investments Inc. increased its stake in shares of NuScale Power by 21.3% during the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock worth $46,000 after purchasing an additional 203 shares during the period. Finally, Moran Wealth Management LLC bought a new position in shares of NuScale Power during the second quarter worth approximately $554,000. Institutional investors own 78.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Northland Capmk upgraded NuScale Power to a “hold” rating in a research note on Monday, July 7th. Canaccord Genuity Group raised their price objective on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Cantor Fitzgerald began coverage on NuScale Power in a research note on Tuesday. They set an “overweight” rating and a $55.00 price objective on the stock. Citigroup restated a “sell” rating and set a $37.50 price objective (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday. Finally, Royal Bank Of Canada began coverage on NuScale Power in a research note on Monday, September 15th. They set a “sector perform” rating and a $35.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $37.73.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 15,048,847 shares of company stock valued at $606,761,579. Company insiders own 1.96% of the company’s stock.

NuScale Power Price Performance

NuScale Power stock opened at $38.37 on Wednesday. The stock’s fifty day moving average price is $38.42 and its two-hundred day moving average price is $33.81. The firm has a market cap of $10.93 billion, a PE ratio of -32.24 and a beta of 2.02. NuScale Power Corporation has a one year low of $11.08 and a one year high of $57.42.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Sell-side analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

About NuScale Power

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.