Alliancebernstein L.P. Cuts Stock Holdings in NuScale Power Co. (NYSE:SMR)

Alliancebernstein L.P. lowered its position in NuScale Power Co. (NYSE:SMR) by 11.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 83,510 shares of the company’s stock after selling 10,530 shares during the quarter. Alliancebernstein L.P.’s holdings in NuScale Power were worth $1,497,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of NuScale Power by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after acquiring an additional 111,812 shares during the last quarter. Stifel Financial Corp grew its position in NuScale Power by 581.8% in the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after acquiring an additional 100,995 shares during the last quarter. Franklin Resources Inc. bought a new stake in NuScale Power during the 3rd quarter valued at about $555,000. Barclays PLC increased its holdings in NuScale Power by 472.3% during the 3rd quarter. Barclays PLC now owns 150,791 shares of the company’s stock worth $1,746,000 after purchasing an additional 124,441 shares during the period. Finally, Spire Wealth Management bought a new stake in shares of NuScale Power in the fourth quarter valued at about $262,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. BTIG Research initiated coverage on NuScale Power in a report on Friday, April 11th. They issued a “buy” rating and a $20.00 price target on the stock. UBS Group cut their price target on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Insider Buying and Selling

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief technology officer now directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction 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 $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,114 shares of company stock valued at $1,351,231 over the last quarter. 1.96% of the stock is currently owned by company insiders.

NuScale Power Stock Up 0.8 %

NuScale Power stock opened at $14.61 on Friday. The business’s 50-day simple moving average is $17.28 and its two-hundred day simple moving average is $19.89. 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 company has a market cap of $4.13 billion, a PE ratio of -15.38 and a beta of 1.64. NuScale Power Co. has a fifty-two week low of $4.61 and a fifty-two week high of $32.30.

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.