NuScale Power (NYSE:SMR) Director Sells $54,394,013.96 in Stock

Key Points

• Corp Fluor, a director at NuScale Power, sold 1,213,069 shares of the company on September 22, totaling approximately $54.4 million, reducing their ownership by 12.03%.
• NuScale Power's stock price fell by 7.7% to $41.55 after substantial insider selling, with a trading volume of over 20 million shares.
• Despite negative earnings results, with an expectations miss for Q2, several hedge funds have increased their positions in NuScale Power, indicating ongoing institutional support.

NuScale Power Corporation (NYSE:SMR - Get Free Report) Director Corp Fluor sold 1,213,069 shares of NuScale Power stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $44.84, for a total value of $54,394,013.96. Following the completion of the transaction, the director owned 8,872,275 shares of the company's stock, valued at approximately $397,832,811. This trade represents a 12.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 Friday, September 19th, Corp Fluor sold 2,372,563 shares of NuScale Power stock. The shares were 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 shares were 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 Down 7.7%

SMR stock traded down $3.45 during trading on Tuesday, reaching $41.55. The company's stock had a trading volume of 20,972,407 shares, compared to its average volume of 17,171,030. The company has a market capitalization of $11.84 billion, a P/E ratio of -34.91 and a beta of 2.03. The company's fifty day moving average is $40.45 and its 200-day moving average is $30.36. NuScale Power Corporation has a 1 year low of $10.71 and a 1 year high of $53.50.

NuScale Power (NYSE:SMR - Get Free Report) last announced 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). The business had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Analysts anticipate 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 hedge funds have recently made changes to their positions in SMR. Harbour Investments Inc. lifted its position in NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after buying an additional 203 shares in the last quarter. D.A. Davidson & CO. raised its holdings in NuScale Power by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock worth $824,000 after buying an additional 212 shares during the period. TD Waterhouse Canada Inc. raised its holdings in NuScale Power by 14.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company's stock worth $95,000 after buying an additional 341 shares during the period. Rothschild Investment LLC boosted its position in NuScale Power by 45.2% during the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock worth $45,000 after purchasing an additional 350 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after purchasing an additional 359 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SMR. Bank of America initiated coverage on shares of NuScale Power in a research note on Thursday, August 21st. They issued a "neutral" rating and a $36.00 target price on the stock. Canaccord Genuity Group upped their price target on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Northland Securities began coverage on shares of NuScale Power in a research report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price objective for the company. Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Finally, BNP Paribas raised shares of NuScale Power to a "hold" rating in a research note on Friday, July 25th. Three equities 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, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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