NuScale Power (NYSE:SMR) Director Sells $36,353,395.83 in Stock

Key Points

• NuScale Power Corporation's Director, Corp Fluor, sold 965,049 shares at an average price of $37.67, resulting in a total transaction value of $36.35 million and a 13.56% decrease in his ownership.
• The company's stock price increased by 0.6% to $37.94 following the sales, despite a earnings report showing a miss on analysts' estimates for revenue and earnings per share.
• Several hedge funds have recently altered their positions in NuScale Power, with institutional investors owning 78.37% of the company's stock.

NuScale Power Corporation (NYSE:SMR - Get Free Report) Director Corp Fluor sold 965,049 shares of the business's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $37.67, for a total value of $36,353,395.83. Following the completion of the sale, the director directly owned 6,151,617 shares of the company's stock, valued at approximately $231,731,412.39. This represents a 13.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 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 shares were 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 stock was 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 stock was sold at an average price of $36.00, for a total value of $20,773,656.00.
• On Tuesday, September 16th, Corp Fluor sold 771,543 shares of NuScale Power stock. The stock was sold at an average price of $37.26, for a total value of $28,747,692.18.

NuScale Power Stock Up 0.6%

SMR traded up $0.24 during trading on Friday, reaching $37.94. The stock had a trading volume of 12,574,994 shares, compared to its average volume of 12,387,227. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of -31.88 and a beta of 2.03. NuScale Power Corporation has a 1-year low of $10.71 and a 1-year high of $53.50. The stock has a 50 day moving average of $40.13 and a two-hundred day moving average of $30.58.

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). NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%.The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. On average, research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently modified their holdings of SMR. Ameriprise Financial Inc. boosted its holdings in NuScale Power by 34.1% in the fourth quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock worth $943,000 after purchasing an additional 13,373 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in NuScale Power by 3.9% in the fourth quarter. Nuveen Asset Management LLC now owns 202,479 shares of the company's stock worth $3,630,000 after purchasing an additional 7,522 shares in the last quarter. Two Sigma Advisers LP bought a new stake in NuScale Power in the fourth quarter worth $2,018,000. Voloridge Investment Management LLC bought a new stake in NuScale Power in the fourth quarter worth $1,766,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in NuScale Power in the fourth quarter worth $207,000. 78.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. UBS Group boosted their target price on shares of NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. BNP Paribas Exane assumed coverage on shares of NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 target price on the stock. Finally, Bank of America assumed coverage on shares of NuScale Power in a research note on Thursday, August 21st. They set a "neutral" rating and a $36.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently 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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