Mirae Asset Global Investments Co. Ltd. Has $839,000 Stake in NuScale Power Corporation (NYSE:SMR)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of NuScale Power Corporation (NYSE:SMR) by 51.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 56,070 shares of the company’s stock after selling 59,530 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NuScale Power were worth $839,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after acquiring an additional 635,271 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NuScale Power by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after buying an additional 89,949 shares in the last quarter. Samsung C&T Corp acquired a new stake in shares of NuScale Power in the fourth quarter valued at $46,745,000. Geode Capital Management LLC boosted its holdings in NuScale Power by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after acquiring an additional 135,613 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in NuScale Power in the fourth quarter valued at about $22,823,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on SMR shares. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the stock a “buy” rating in a research note on Thursday, May 29th. UBS Group boosted their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an “outperform” rating in a report on Tuesday, May 27th. The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the company a “neutral” rating in a report on Tuesday, May 20th. Finally, Citigroup initiated coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a “neutral” rating and a $46.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, NuScale Power has a consensus rating of “Hold” and an average price target of $31.57.

NuScale Power Stock Up 2.2%

Shares of SMR stock opened at $35.98 on Friday. The company’s fifty day simple moving average is $30.05 and its 200-day simple moving average is $22.80. The firm has a market cap of $10.23 billion, a PE ratio of -26.26 and a beta of 2.04. NuScale Power Corporation has a 12 month low of $6.88 and a 12 month high of $45.31.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. On average, equities analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the sale, the vice president owned 1,218 shares in the company, valued at $20,632.92. This trade represents a 56.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Clayton Scott sold 10,019 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the sale, the insider owned 86,965 shares of the company’s stock, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock worth $1,786,990 over the last quarter. 1.27% of the stock is currently owned by insiders.

NuScale Power Company 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.