Hennion & Walsh Asset Management Inc. Makes New $170,000 Investment in NuScale Power Co. (NYSE:SMR)

Hennion & Walsh Asset Management Inc. purchased a new position in shares of NuScale Power Co. (NYSE:SMR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,982 shares of the company’s stock, valued at approximately $170,000.

A number of other large investors also recently added to or reduced their stakes in SMR. CoreCap Advisors LLC acquired a new position in NuScale Power during the fourth quarter worth $33,000. Venturi Wealth Management LLC lifted its stake 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 purchasing an additional 1,500 shares in the last quarter. Twin Tree Management LP acquired a new position in NuScale Power during the fourth quarter worth $42,000. NBC Securities Inc. lifted its stake in NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after purchasing an additional 986 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Stock Up 2.9%

NuScale Power stock opened at $35.36 on Tuesday. NuScale Power Co. has a 1-year low of $6.88 and a 1-year high of $36.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market cap of $10.06 billion, a PE ratio of -37.22 and a beta of 2.00. The stock’s fifty day moving average is $21.08 and its two-hundred day moving average is $20.96.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The company had revenue of $13.38 million for the quarter, compared to analysts’ expectations of $1.46 million. On average, sell-side analysts expect that NuScale Power Co. will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief technology officer now owns 516,207 shares of the company’s stock, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $20,632.92. The trade was a 56.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,278 shares of company stock worth $2,286,280 over the last ninety days. Corporate insiders own 1.27% of the company’s stock.

Analysts Set New Price Targets

SMR has been the topic of several analyst reports. CLSA set a $41.00 price objective on NuScale Power and gave the company an “outperform” rating in a research note on Tuesday, May 27th. UBS Group increased their price objective on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a “buy” rating in a research note on Thursday, May 29th. Finally, BTIG Research reiterated a “buy” rating on shares of NuScale Power in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

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.