Principal Financial Group Inc. Invests $123,000 in NuScale Power Co. (NYSE:SMR)

Principal Financial Group Inc. acquired a new position in NuScale Power Co. (NYSE:SMR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,483 shares of the company’s stock, valued at approximately $123,000.

Several other large investors have also modified their holdings of SMR. Price T Rowe Associates Inc. MD increased its holdings in shares of NuScale Power by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after acquiring an additional 4,014 shares during the period. TFC Financial Management Inc. acquired a new stake in shares of NuScale Power in the second quarter worth $75,000. Resurgent Financial Advisors LLC lifted its holdings in NuScale Power by 100.0% in the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after acquiring an additional 7,400 shares during the period. Evanson Asset Management LLC boosted its stake in shares of NuScale Power by 44.3% during the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after acquiring an additional 7,986 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of NuScale Power during the 2nd quarter valued at approximately $98,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

NuScale Power Price Performance

NuScale Power stock opened at $9.68 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market capitalization of $2.35 billion, a PE ratio of -11.39 and a beta of 1.22. The business has a 50 day simple moving average of $9.93 and a 200-day simple moving average of $8.01. NuScale Power Co. has a 12 month low of $1.81 and a 12 month high of $16.91.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same period last year, the company earned ($0.13) earnings per share. Equities analysts predict that NuScale Power Co. will post -0.55 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on SMR. B. Riley upped their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. CLSA assumed coverage on NuScale Power in a report on Friday. They issued an “outperform” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.63.

Insider Buying and Selling

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the transaction, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the transaction, the chief operating officer now owns 30,323 shares of the company’s stock, valued at $266,539.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The disclosure for this sale can be found here. Insiders sold 81,544 shares of company stock worth $761,686 in the last ninety days. Insiders own 1.96% of the company’s stock.

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.