Insider Selling: NuScale Power (NYSE:SMR) Director Sells 532,354 Shares of Stock

Key Points

• Corp Fluor, a director at NuScale Power, sold 532,354 shares on October 1st for approximately $19.44 million, reducing their ownership by 13.45% to 3.42 million shares.
• Prior to the October 1 sale, Fluor made several significant transactions, offloading a total of over 6 million shares throughout late September.
• NuScale Power's shares traded at $36.66, with a current market cap of $10.44 billion and an average rating of "Hold" among analysts.

NuScale Power Corporation (NYSE:SMR - Get Free Report) Director Corp Fluor sold 532,354 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $36.52, for a total value of $19,441,568.08. Following the sale, the director directly owned 3,424,278 shares in the company, valued at $125,054,632.56. The trade was a 13.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, September 30th, Corp Fluor sold 909,055 shares of NuScale Power stock. The stock was sold at an average price of $36.72, for a total value of $33,380,499.60.
• On Monday, September 29th, Corp Fluor sold 697,210 shares of NuScale Power stock. The shares were sold at an average price of $38.95, for a total value of $27,156,329.50.
• On Friday, September 26th, Corp Fluor sold 588,720 shares of NuScale Power stock. The shares were sold at an average price of $37.97, for a total value of $22,353,698.40.
• On Thursday, September 25th, Corp Fluor sold 965,049 shares of NuScale Power stock. The shares were sold at an average price of $37.67, for a total value of $36,353,395.83.
• On Wednesday, September 24th, Corp Fluor sold 773,921 shares of NuScale Power stock. The shares were sold at an average price of $40.49, for a total value of $31,336,061.29.
• 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 value 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 value of $54,394,013.96.
• On Friday, September 19th, Corp Fluor sold 2,372,563 shares of NuScale Power stock. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37.
• On Thursday, September 18th, Corp Fluor sold 1,193,504 shares of NuScale Power stock. The shares were sold at an average price of $38.95, for a total value 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 value of $20,773,656.00.

NuScale Power Stock Performance

Shares of NYSE SMR traded up $0.66 during mid-day trading on Wednesday, hitting $36.66. The stock had a trading volume of 13,088,927 shares, compared to its average volume of 19,579,782. The company has a 50 day moving average of $39.34 and a two-hundred day moving average of $31.16. NuScale Power Corporation has a twelve month low of $11.08 and a twelve month high of $53.50. The firm has a market cap of $10.44 billion, a PE ratio of -30.81 and a beta of 2.02.

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

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbour Investments Inc. grew its stake in shares of NuScale Power by 21.3% during the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after purchasing an additional 203 shares in the last quarter. D.A. Davidson & CO. boosted its stake in NuScale Power by 1.0% in the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock valued at $824,000 after acquiring an additional 212 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in NuScale Power by 14.8% in the second quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company's stock valued at $95,000 after acquiring an additional 341 shares in the last quarter. Rothschild Investment LLC boosted its stake in NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after acquiring an additional 350 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. UBS Group raised their target price on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Royal Bank Of Canada started coverage on NuScale Power in a report on Monday, September 15th. They issued a "sector perform" rating and a $35.00 price objective on the stock. Northland Capmk upgraded NuScale Power to a "hold" rating in a report on Monday, July 7th. Finally, Barclays began coverage on NuScale Power in a report on Monday. They issued an "equal weight" rating and a $45.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NuScale Power currently has an average rating of "Hold" and an average target price of $36.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.