Stock Traders Buy High Volume of Put Options on NuScale Power (NYSE:SMR)

Key Points

• Traders have purchased a remarkable 113,039 put options on NuScale Power, marking a 91% increase over the average volume, indicating heightened bearish sentiment.
• Insider transactions saw CFO Robert Ramsey Hamady and COO Carl M. Fisher sell significant amounts of stock, decreasing their ownership by 39.83% and 16.69%, respectively.
• NuScale Power's stock price has surged by 7.5% during trading hours, reaching $39.06, amidst high trading volumes and following a quarterly earnings report that fell short of analyst expectations.

NuScale Power Corporation (NYSE:SMR - Get Free Report) was the recipient of unusually large options trading on Monday. Traders bought 113,039 put options on the stock. This is an increase of 91% compared to the average volume of 59,300 put options.

Insider Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 30,641 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares of the company's stock, valued at approximately $1,647,211.97. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Carl M. Fisher sold 18,206 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total value of $808,164.34. Following the sale, the chief operating officer directly owned 90,864 shares of the company's stock, valued at approximately $4,033,452.96. This trade represents a 16.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

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

NuScale Power Stock Up 7.5%

NYSE SMR traded up $2.72 during trading hours on Monday, hitting $39.06. The company had a trading volume of 23,052,428 shares, compared to its average volume of 12,532,172. The firm has a market cap of $11.13 billion, a P/E ratio of -32.82 and a beta of 2.03. NuScale Power has a fifty-two week low of $8.80 and a fifty-two week high of $53.50. The business has a fifty day simple moving average of $40.14 and a 200-day simple moving average of $29.43.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly 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). The business had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Equities analysts forecast that NuScale Power will post -0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMR. BNP Paribas upgraded NuScale Power to a "hold" rating in a research report on Friday, July 25th. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Canaccord Genuity Group upped their price objective 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. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a report on Tuesday, May 27th. Finally, BNP Paribas Exane assumed coverage on NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 target price for the company. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NuScale Power presently has an average rating of "Hold" and an average target price 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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