Allspring Global Investments Holdings LLC Buys New Position in NuScale Power Co. (NYSE:SMR)

Allspring Global Investments Holdings LLC bought a new stake in shares of NuScale Power Co. (NYSE:SMR – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 312,507 shares of the company’s stock, valued at approximately $3,650,000.

Several other hedge funds also recently modified their holdings of SMR. Boenning & Scattergood Inc. purchased a new position in shares of NuScale Power during the second quarter valued at approximately $437,000. CFO4Life Group LLC purchased a new position in shares of NuScale Power in the 2nd quarter worth about $105,000. Strs Ohio bought a new position in NuScale Power during the second quarter valued at about $39,000. Canal Insurance CO bought a new position in NuScale Power during the second quarter valued at about $400,000. Finally, CWM LLC bought a new position in NuScale Power during the second quarter valued at about $213,000.

NuScale Power Stock Performance

SMR opened at $10.41 on Wednesday. The firm has a 50-day moving average of $10.71 and a 200 day moving average of $11.97. NuScale Power Co. has a fifty-two week low of $8.87 and a fifty-two week high of $15.85.

NuScale Power (NYSE:SMR – Get Rating) last posted its quarterly earnings results on Friday, November 11th. The company reported ($0.19) earnings per share for the quarter. The company had revenue of $3.17 million for the quarter. On average, equities analysts forecast that NuScale Power Co. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, General Counsel Robert K. Temple sold 39,642 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $10.19, for a total transaction of $403,951.98. Following the completion of the transaction, the general counsel now owns 2,000 shares in the company, valued at $20,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NuScale Power news, General Counsel Robert K. Temple sold 39,642 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $10.19, for a total transaction of $403,951.98. Following the completion of the transaction, the general counsel now owns 2,000 shares in the company, valued at $20,380. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Private Equity Co. Ltd. Ds sold 52,656 shares of the stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $11.97, for a total transaction of $630,292.32. Following the transaction, the insider now owns 2,737,344 shares of the company’s stock, valued at approximately $32,766,007.68. The disclosure for this sale can be found here. Insiders sold 522,287 shares of company stock worth $6,011,668 over the last quarter.

Analysts Set New Price Targets

Separately, UBS Group initiated coverage on shares of NuScale Power in a research report on Tuesday, October 25th. They set a “neutral” rating and a $13.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, NuScale Power presently has an average rating of “Moderate Buy” and an average target price of $16.25.

NuScale Power Company Profile

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NuScale Power Corporation develops and sells 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, a water reactor that can generate 77 megawatts of electricity (MWe); The VOYGR-12 power plant that can generate 924 MWe; and four-module VOYGR-4 and six-module VOYGR-6 plants, as well as other configurations based on customer needs.