Handelsbanken Fonder AB Increases Holdings in NuScale Power Corporation $SMR

Handelsbanken Fonder AB increased its position in shares of NuScale Power Corporation (NYSE:SMR) by 209.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,000 shares of the company’s stock after purchasing an additional 73,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in NuScale Power were worth $1,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Adamsbrown Wealth Consultants LLC purchased a new position in NuScale Power during the 2nd quarter worth approximately $100,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of NuScale Power by 30.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock valued at $845,000 after acquiring an additional 19,679 shares during the last quarter. Evanson Financial LLC purchased a new stake in shares of NuScale Power in the 2nd quarter valued at $512,000. CoreCap Advisors LLC increased its stake in shares of NuScale Power by 28.3% in the second quarter. CoreCap Advisors LLC now owns 11,053 shares of the company’s stock worth $111,000 after acquiring an additional 2,436 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of NuScale Power by 67.1% in the first quarter. Pacer Advisors Inc. now owns 164,247 shares of the company’s stock worth $1,780,000 after acquiring an additional 65,933 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Northland Securities set a $16.00 target price on shares of NuScale Power in a research report on Thursday, August 6th. HSBC assumed coverage on NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target on the stock. Truist Financial began coverage on NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 price objective for the company. Royal Bank Of Canada lowered their target price on NuScale Power from $14.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.50.

NuScale Power Price Performance

SMR opened at $9.30 on Thursday. The firm has a fifty day moving average price of $9.37 and a 200 day moving average price of $11.30. NuScale Power Corporation has a 1 year low of $7.21 and a 1 year high of $57.42. The stock has a market cap of $4.00 billion, a P/E ratio of -3.18 and a beta of 2.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. During the same quarter last year, the business earned ($0.11) earnings per share. The firm’s revenue was down 99.1% on a year-over-year basis. Equities analysts expect that NuScale Power Corporation will post -0.64 EPS for the current year.

Insider Activity

In other news, COO Carl M. Fisher sold 18,771 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total transaction of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares of the company’s stock, valued at $1,073,760.48. This represents a 14.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.28% of the stock is currently owned by insiders.

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.