NuScale Power (NYSE:SMR) Director Corp Fluor Sells 771,543 Shares

Key Points

• Corp Fluor, a director at NuScale Power, sold a significant total of 771,543 shares of stock on September 16th for approximately $28.75 million at an average price of $37.26, which reflects a decrease in his ownership stake.
• Shares of NuScale Power saw a 5.3% increase in trading value, reaching $38.06, along with heightened trading volume of over 25.8 million shares.
• Recent quarterly earnings reported negative EPS of -$0.13, missing estimates and highlighting a negative net margin of 221.07%, with total revenue of $8.05 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report) Director Corp Fluor sold 771,543 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $37.26, for a total transaction of $28,747,692.18. Following the transaction, the director directly owned 14,228,457 shares of the company's stock, valued at approximately $530,152,307.82. This represents a 5.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 stock was sold at an average price of $36.00, for a total transaction of $20,773,656.00.

NuScale Power Trading Up 22.0%

NuScale Power stock traded up $8.40 on Friday, reaching $46.52. 51,875,326 shares of the stock were exchanged, compared to its average volume of 14,298,589. The stock has a market cap of $13.25 billion, a PE ratio of -39.09 and a beta of 2.03. NuScale Power Corporation has a twelve month low of $9.71 and a twelve month high of $53.50. The firm has a fifty day moving average price of $40.42 and a two-hundred day moving average price of $29.89.

NuScale Power (NYSE:SMR - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. Equities analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in shares of NuScale Power by 34.1% during the fourth 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 period. Captrust Financial Advisors acquired a new stake in shares of NuScale Power during the fourth quarter worth $272,000. Deutsche Bank AG raised its holdings in shares of NuScale Power by 50.0% during the fourth quarter. Deutsche Bank AG now owns 75,396 shares of the company's stock worth $1,352,000 after acquiring an additional 25,131 shares during the period. Focus Partners Wealth acquired a new stake in shares of NuScale Power during the fourth quarter worth $403,000. Finally, Janus Henderson Group PLC raised its holdings in shares of NuScale Power by 27.4% during the fourth quarter. Janus Henderson Group PLC now owns 39,100 shares of the company's stock worth $700,000 after acquiring an additional 8,400 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SMR. Citigroup started coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target for the company. Royal Bank Of Canada started coverage on NuScale Power in a research note on Monday, September 15th. They issued a "sector perform" rating and a $35.00 price objective on the stock. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Bank of America started coverage on NuScale Power in a research note on Thursday, August 21st. They issued a "neutral" rating and a $36.00 price objective on the stock. Finally, Canaccord Genuity Group upped their price objective on NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average 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.