Peregrine Asset Advisers Inc. Buys Shares of 12,000 NuScale Power Co. (NYSE:SMR)

Peregrine Asset Advisers Inc. purchased a new stake in shares of NuScale Power Co. (NYSE:SMR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,000 shares of the company’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SMR. Global Retirement Partners LLC purchased a new position in NuScale Power during the fourth quarter valued at $25,000. Essex Private Wealth Management LLC purchased a new position in shares of NuScale Power during the 4th quarter valued at about $33,000. Sloy Dahl & Holst LLC bought a new position in shares of NuScale Power during the 4th quarter valued at approximately $33,000. Arizona State Retirement System purchased a new stake in NuScale Power in the 4th quarter worth approximately $34,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in NuScale Power during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

NuScale Power Stock Performance

Shares of SMR traded down $0.17 during midday trading on Tuesday, hitting $5.66. 2,006,797 shares of the company traded hands, compared to its average volume of 4,098,229. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -7.38 and a beta of 0.98. The firm has a 50 day moving average of $5.39 and a 200-day moving average of $3.76. NuScale Power Co. has a 52 week low of $1.81 and a 52 week high of $11.21.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. The firm had revenue of $4.56 million for the quarter, compared to the consensus estimate of $1.75 million. Sell-side analysts predict that NuScale Power Co. will post -0.64 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction on Monday, May 6th. The shares were sold at an average price of $6.07, for a total value of $144,502.42. Following the completion of the transaction, the general counsel now directly owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $6.07, for a total value of $144,502.42. Following the completion of the sale, the general counsel now directly owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,899 shares of company stock valued at $590,771. 1.96% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SMR has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an “underweight” rating and issued a $4.50 price objective (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. UBS Group increased their price target on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Canaccord Genuity Group assumed coverage on NuScale Power in a research report on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective on the stock. Finally, Canaccord Genuity Group increased their target price on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.75.

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.