Pictet Asset Management Holding SA Sells 4,966 Shares of NuScale Power Co. (NYSE:SMR)

Pictet Asset Management Holding SA lowered its stake in shares of NuScale Power Co. (NYSE:SMR) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,109 shares of the company’s stock after selling 4,966 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NuScale Power were worth $217,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Venturi Wealth Management LLC grew its position in NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of NuScale Power during the fourth quarter valued at approximately $42,000. Amalgamated Bank raised its stake in shares of NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after purchasing an additional 986 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in NuScale Power by 2,980.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company’s stock worth $66,000 after purchasing an additional 3,576 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the sale, the chief financial officer now directly owns 29,985 shares in the company, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This trade represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,114 shares of company stock valued at $1,351,231 in the last ninety days. Insiders own 1.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. BTIG Research initiated coverage on shares of NuScale Power in a research note on Friday. They issued a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

NuScale Power Stock Up 1.9 %

Shares of NYSE SMR opened at $15.14 on Friday. NuScale Power Co. has a 52-week low of $4.61 and a 52-week high of $32.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The business has a fifty day moving average of $18.11 and a two-hundred day moving average of $19.87. The stock has a market cap of $4.27 billion, a PE ratio of -15.93 and a beta of 1.64.

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.