Corp Fluor Sells 2,372,563 Shares of NuScale Power (NYSE:SMR) Stock

Key Points

• Corp Fluor, a director of NuScale Power, sold 2,372,563 shares on September 19 at an average price of $43.99, resulting in a total transaction value of over $104 million.
• Following these sales, Corp Fluor’s ownership in NuScale Power decreased by 19.04%, leaving them with approximately 10 million shares valued at around $443.6 million.
• NuScale Power's stock experienced a 7.7% decline in a recent trading session, dropping to $41.55, with a market cap of approximately $11.84 billion.

NuScale Power Corporation (NYSE:SMR - Get Free Report) Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares of the company's stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Corp Fluor also recently made the following trade(s):

• On Tuesday, September 23rd, Corp Fluor sold 981,688 shares of NuScale Power stock. The shares were sold at an average price of $42.69, for a total transaction of $41,908,260.72.
• On Monday, September 22nd, Corp Fluor sold 1,213,069 shares of NuScale Power stock. The stock was sold at an average price of $44.84, for a total transaction of $54,394,013.96.
• On Thursday, September 18th, Corp Fluor sold 1,193,504 shares of NuScale Power stock. The stock was sold at an average price of $38.95, for a total transaction of $46,486,980.80.
• On Wednesday, September 17th, Corp Fluor sold 577,046 shares of NuScale Power stock. The shares were sold at an average price of $36.00, for a total transaction of $20,773,656.00.
• On Tuesday, September 16th, Corp Fluor sold 771,543 shares of NuScale Power stock. The stock was sold at an average price of $37.26, for a total transaction of $28,747,692.18.

NuScale Power Stock Down 7.7%

NYSE:SMR traded down $3.45 during mid-day trading on Tuesday, reaching $41.55. 20,972,407 shares of the company were exchanged, compared to its average volume of 17,171,030. NuScale Power Corporation has a 12 month low of $10.71 and a 12 month high of $53.50. The company has a fifty day moving average of $40.45 and a 200 day moving average of $30.36. The stock has a market cap of $11.84 billion, a PE ratio of -34.91 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. On average, equities research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its stake in shares of NuScale Power by 34.1% during the 4th quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock worth $943,000 after acquiring an additional 13,373 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of NuScale Power by 3.9% in the 4th quarter. Nuveen Asset Management LLC now owns 202,479 shares of the company's stock valued at $3,630,000 after acquiring an additional 7,522 shares during the period. ProShare Advisors LLC increased its holdings in shares of NuScale Power by 59.4% in the 4th quarter. ProShare Advisors LLC now owns 23,860 shares of the company's stock valued at $428,000 after acquiring an additional 8,895 shares during the period. Two Sigma Advisers LP purchased a new position in shares of NuScale Power in the 4th quarter valued at $2,018,000. Finally, Voloridge Investment Management LLC purchased a new position in NuScale Power during the 4th quarter worth $1,766,000. Institutional investors own 78.37% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMR. UBS Group lifted their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. Northland Securities assumed coverage on NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 price target on the stock. Northland Capmk raised NuScale Power to a "hold" rating in a research note on Monday, July 7th. Canaccord Genuity Group lifted their price target on NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, BNP Paribas Exane assumed coverage on NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, NuScale Power presently has a consensus rating of "Hold" and a consensus target price of $36.09.

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.

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