Insider Selling: NuScale Power (NYSE:SMR) Director Sells 863,912 Shares of Stock

Key Points

• NuScale Power Corporation's director, Corp Fluor, sold 863,912 shares on October 2nd, amounting to approximately $33.19 million, reducing their ownership by 25.23%.
• The sales were part of a series of transactions over recent weeks, with total shares sold reaching over 5 million at varying average prices.
• After the recent stock trading, NuScale Power shares closed at $41.94, with a 52-week high of $53.50 and low of $11.08, reflecting significant price fluctuations.

NuScale Power Corporation (NYSE:SMR - Get Free Report) Director Corp Fluor sold 863,912 shares of the company's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $38.42, for a total value of $33,191,499.04. Following the completion of the sale, the director directly owned 2,560,366 shares in the company, valued at approximately $98,369,261.72. The trade was a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, October 6th, Corp Fluor sold 854,033 shares of NuScale Power stock. The stock was sold at an average price of $42.41, for a total transaction of $36,219,539.53.
• On Friday, October 3rd, Corp Fluor sold 797,572 shares of NuScale Power stock. The stock was sold at an average price of $39.97, for a total transaction of $31,878,952.84.
• On Wednesday, October 1st, Corp Fluor sold 532,354 shares of NuScale Power stock. The stock was sold at an average price of $36.52, for a total transaction of $19,441,568.08.
• 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 transaction of $33,380,499.60.
• On Monday, September 29th, Corp Fluor sold 697,210 shares of NuScale Power stock. The stock was sold at an average price of $38.95, for a total transaction of $27,156,329.50.
• On Friday, September 26th, Corp Fluor sold 588,720 shares of NuScale Power stock. The stock was sold at an average price of $37.97, for a total transaction of $22,353,698.40.
• On Thursday, September 25th, Corp Fluor sold 965,049 shares of NuScale Power stock. The stock was sold at an average price of $37.67, for a total transaction of $36,353,395.83.
• On Wednesday, September 24th, Corp Fluor sold 773,921 shares of NuScale Power stock. The stock was 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 stock was 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.

NuScale Power Stock Performance

Shares of NuScale Power stock traded up $1.82 during midday trading on Monday, hitting $41.94. The company had a trading volume of 18,372,109 shares, compared to its average volume of 12,543,067. NuScale Power Corporation has a 52-week low of $11.08 and a 52-week high of $53.50. The stock has a market capitalization of $11.95 billion, a P/E ratio of -35.24 and a beta of 2.02. The company has a 50 day moving average of $38.88 and a 200 day moving average of $31.65.

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

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. lifted its holdings in shares of NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after buying an additional 203 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of NuScale Power by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock valued at $824,000 after buying an additional 212 shares during the period. TD Waterhouse Canada Inc. lifted its holdings 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 during the period. Rothschild Investment LLC lifted its holdings 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 during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 during the period. 78.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SMR. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Northland Securities began coverage on shares of NuScale Power in a report on Monday, July 7th. They set a "market perform" rating and a $35.00 price target on the stock. Bank of America reiterated an "underperform" rating and set a $34.00 target price (down from $38.00) on shares of NuScale Power in a research note on Tuesday, September 30th. UBS Group increased their target price on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, BNP Paribas Exane started coverage on NuScale Power in a research report on Friday, July 25th. They set a "neutral" rating and a $41.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.67.

NuScale Power Company Profile

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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