Wedbush Securities Inc. Has $204,000 Position in NuScale Power Corporation $SMR

Wedbush Securities Inc. lowered its holdings in NuScale Power Corporation (NYSE:SMR) by 88.4% during the third quarter, HoldingsChannel.com reports. The fund owned 5,675 shares of the company’s stock after selling 43,352 shares during the period. Wedbush Securities Inc.’s holdings in NuScale Power were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in NuScale Power by 623.4% during the first quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock valued at $6,475,000 after purchasing an additional 394,065 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock worth $533,000 after buying an additional 10,244 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of NuScale Power during the 1st quarter worth approximately $390,000. Jones Financial Companies Lllp boosted its stake in NuScale Power by 9.1% in the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after buying an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after buying an additional 1,705,411 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Stock Performance

Shares of NYSE:SMR opened at $14.28 on Wednesday. The business has a fifty day moving average of $17.48 and a 200-day moving average of $28.56. NuScale Power Corporation has a twelve month low of $11.08 and a twelve month high of $57.42. The firm has a market cap of $4.26 billion, a PE ratio of -4.99 and a beta of 2.14.

Insider Buying and Selling

In other NuScale Power news, CFO Robert Ramsey Hamady sold 40,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. The trade was a 46.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SMR. B. Riley Financial dropped their price objective on NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Zacks Research cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Texas Capital raised shares of NuScale Power to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, BNP Paribas Exane cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power presently has a consensus rating of “Hold” and a consensus target price of $33.19.

NuScale Power Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.