NuScale Power (NYSE:SMR) Director Corp Fluor Sells 588,720 Shares

Key Points

• NuScale Power's Director Corp Fluor recently sold 588,720 shares of the company's stock for approximately $22.35 million, reducing their ownership by 9.57%.
• In a series of transactions over several days, Corp Fluor sold over 5 million shares of NuScale Power, totaling more than $248 million in sales.
• NuScale Power’s stock is currently trading at $37.94, showing a significant drop from its one-year high of $53.50, with analysts offering a consensus price target of $36.09.

NuScale Power Corporation (NYSE:SMR - Get Free Report) Director Corp Fluor sold 588,720 shares of the firm's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $37.97, for a total value of $22,353,698.40. Following the sale, the director owned 5,562,897 shares of the company's stock, valued at $211,223,199.09. The trade was a 9.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 value 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.
• 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 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.
• On Tuesday, September 16th, Corp Fluor sold 771,543 shares of NuScale Power stock. The shares were sold at an average price of $37.26, for a total value of $28,747,692.18.

NuScale Power Price Performance

Shares of SMR stock traded up $0.24 during trading on Friday, reaching $37.94. The company had a trading volume of 12,574,994 shares, compared to its average volume of 12,387,227. The firm's 50 day simple moving average is $40.13 and its two-hundred day simple moving average is $30.58. NuScale Power Corporation has a one year low of $10.71 and a one year high of $53.50. The company has a market capitalization of $10.81 billion, a PE ratio of -31.88 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data 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). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The company had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. Analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently bought and sold shares of SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after purchasing an additional 1,705,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after acquiring an additional 1,153,158 shares during the period. Bank of America Corp DE lifted its stake in shares of NuScale Power by 80.9% during the second quarter. Bank of America Corp DE now owns 2,333,248 shares of the company's stock valued at $92,303,000 after acquiring an additional 1,043,676 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of NuScale Power during the first quarter valued at $14,271,000. Finally, Man Group plc acquired a new position in NuScale Power in the second quarter valued at about $33,877,000. Institutional investors and hedge funds own 78.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SMR shares. Bank of America started coverage on NuScale Power in a research report on Thursday, August 21st. They issued a "neutral" rating and a $36.00 price target on the stock. BNP Paribas raised NuScale Power to a "hold" rating in a report on Friday, July 25th. Northland Securities started coverage on NuScale Power in a report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective on the stock. Citigroup initiated coverage on NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective on the stock. Finally, BTIG Research lowered NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, NuScale Power has an average rating of "Hold" and a consensus price target of $36.09.

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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