NuScale Power (NYSE:SMR) CFO Robert Ramsey Hamady Sells 20,000 Shares of Company Stock

Key Points

• NuScale CFO Robert Hamady sold 20,000 shares at an average price of $7.89, for proceeds of $157,800. The Rule 10b5-1 transaction reduced his ownership by 12.18%, leaving him with 144,235 shares.
• NuScale shares fell 0.9% to $7.68, near the company’s 12-month low of $7.21. The company reported a $0.13 quarterly loss per share and revenue of just $0.07 million, down 99.1% year over year.
• Analysts have a consensus “Hold” rating and an average price target of $12.96, though targets range from $6.50 to $16.00 and include both buy and sell recommendations.

NuScale Power Corporation (NYSE:SMR - Get Free Report) CFO Robert Hamady sold 20,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $7.89, for a total value of $157,800.00. Following the completion of the sale, the chief financial officer owned 144,235 shares of the company's stock, valued at approximately $1,138,014.15. This trade represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Robert Ramsey Hamady also recently made the following trade(s):

• On Thursday, August 27th, Robert Hamady sold 29,880 shares of NuScale Power stock. The shares were sold at an average price of $9.39, for a total transaction of $280,573.20.

NuScale Power Stock Down 0.9%

Shares of NuScale Power stock traded down $0.07 during midday trading on Monday, hitting $7.68. The company had a trading volume of 17,853,813 shares, compared to its average volume of 31,489,016. The company has a fifty day simple moving average of $9.05 and a 200 day simple moving average of $10.17. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -2.63 and a beta of 2.36. NuScale Power Corporation has a 12-month low of $7.21 and a 12-month high of $57.42.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. NuScale Power's revenue was down 99.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. As a group, analysts expect that NuScale Power Corporation will post -0.64 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Strategic Advocates LLC grew its stake in shares of NuScale Power by 233.0% during the 4th quarter. Strategic Advocates LLC now owns 2,321 shares of the company's stock worth $33,000 after purchasing an additional 1,624 shares during the period. Harbour Investments Inc. boosted its holdings in NuScale Power by 32.4% during the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company's stock worth $34,000 after buying an additional 592 shares in the last quarter. Assetmark Inc. grew its position in NuScale Power by 1,940.3% during the first quarter. Assetmark Inc. now owns 2,428 shares of the company's stock valued at $26,000 after buying an additional 2,309 shares during the period. Ameritas Advisory Services LLC purchased a new position in NuScale Power in the second quarter valued at $27,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of NuScale Power in the fourth quarter worth about $110,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial assumed coverage on NuScale Power in a research note on Monday, July 13th. They set a "hold" rating and a $10.00 price target on the stock. B. Riley Financial decreased their target price on NuScale Power from $19.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 14th. Citigroup dropped their target price on NuScale Power from $7.50 to $6.50 and set a "sell" rating on the stock in a research report on Thursday, August 6th. Canaccord Genuity Group cut their price target on shares of NuScale Power from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Finally, Northland Securities set a $16.00 price target on shares of NuScale Power in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, NuScale Power presently has an average rating of "Hold" and an average price target of $12.96.

NuScale Power Company Profile

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and process heat. Its primary product is the VOYGR SMR power plant, which is based on the company's proprietary pressurized light-water reactor design. The plants are intended to be built from factory-produced modules and can be configured for applications including utility-scale power generation, industrial heat, hydrogen production, and water desalination.

NuScale provides reactor technology, engineering and design support, licensing assistance, and services intended to help customers develop and deploy SMR facilities.

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