NuScale Power Co. (NYSE:SMR) Major Shareholder Private Equity Co. Ltd. Ds sells 52,656 shares

NuScale Power Co. (NYSE:SMR – Get Rating) major shareholder Private Equity Co. Ltd. Ds sold 52,656 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $11.97, for a total value of $630,292.32. Following the sale, the insider now directly owns 2,737,344 shares of the company’s stock, valued at $32,766,007.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NuScale Power Stock Down 1.5%

Shares of SMR stock traded down $0.17 during mid-day trading on Friday, reaching $11.49. The stock had a trading volume of 497,017 shares, compared to its average volume of 689,785. NuScale Power Co. has a 12-month low of $8.87 and a 12-month high of $15.85. The firm’s 50-day moving average is $12.79.

NuScale Power (NYSE:SMR – Get Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $2.75 million during the quarter. On average, sell-side analysts anticipate that NuScale Power Co. will post -0.62 earnings per share for the current year.

Analyst’s Set New Price Targets

A number of equities research analysts have commented on SMR shares. UBS Group started coverage on NuScale Power in a report on Tuesday. They issued a “neutral” rating and a $13.00 target price for the company. Cowen raised their target price on NuScale Power to $17.00 in a report on Monday, August 15th. Guggenheim started coverage on NuScale Power in a report on Thursday, August 18th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Wells Fargo & Company started coverage on NuScale Power in a report on Thursday, August 25th. They issued an “equal weight” rating and a $17.00 target price for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.25.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Keybank National Association OH purchased a new stake in NuScale Power during the 3rd quarter worth about $170,000. Canal Insurance CO increased its position in NuScale Power by 100.0% during the 3rd quarter. Canal Insurance CO now owns 80,000 shares of the company’s stock worth $932,000 after purchasing an additional 40,000 shares in the last quarter. Advisory Research Inc. purchased a new stake in NuScale Power in the 2nd quarter valued at about $1,417,000. Clear Sky Advisers LLC purchased a new stake in NuScale Power in the 2nd quarter valued at about $859,000. Finally, SailingStone Capital Partners LLC purchased a new stake in NuScale Power in the 2nd quarter valued at about $16,754,000. Hedge funds and other institutional investors own 30.41% of the company’s stock.

NuScale Power Company Profile

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NuScale Power Corporation develops and sells 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, a water reactor that can generate 77 megawatts of electricity (MWe); The VOYGR-12 power plant that can generate 924 MWe; and four-module VOYGR-4 and six-module VOYGR-6 plants, as well as other configurations based on customer needs.

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